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D5 Av. Professor Magalhães Neto, 1,752 10th Floor, Rooms 1009, 1010 and 1011 Salvador BR 41810-012 Marcos Moreno Chagas Assumpção +55 11 3503-9330 ri@suzano.com.br Av. Brigadeiro Faria Lima, 1,355 - 7th Floor São Paulo BR 01452-919 Our common shares without par value* true NYSE American Depositary Shares, or ADSs,** each representing one of our common shares SUZB3/SUZ NYSE 6.000% Notes due 2029, issued by Suzano Austria GmbH SUZ/29 NYSE 5.000% Notes due 2030, issued by Suzano Austria GmbH SUZ/30 NYSE 3.750% Notes due 2031, issued by Suzano Austria GmbH SUZ/31 NYSE 2.500% Notes due 2028, issued by Suzano Austria GmbH SUZ/28 NYSE 3.125% Notes due 2032, issued by Suzano Austria GmbH SUZ/32 NYSE 5.500 % Notes due 2036, issued by Suzano Netherlands B.V. SUZ/36 NYSE 1264117615 Yes No Yes Yes Large Accelerated Filer false false true International Financial Reporting Standards false PricewaterhouseCoopers Auditores Independentes Ltda. 1351 true <div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We maintain a comprehensive process to assess, identify, and manage risks arising from vulnerabilities, including risks related to disruptions to business operations or financial reporting systems, intellectual property theft, fraud, extortion, harm to employees or customers, privacy law violations, and other legal disputes and risks, as part of our overall risk management system and processes.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our information security and cybersecurity risk management processes include the following:</span></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Our processes are structured based on NIST Cybersecurity and ISO 27001 frameworks. Our processes and policies are periodically reviewed to cover relevant risks.</span></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">We utilize components in our information security and cybersecurity framework such as multi-factor authentication, firewalls, antivirus software, vulnerability and penetration testing, among others.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.96pt">Additionally, our internal areas collaborate with each other, encompassing those responsible for day-to-day Information Security and Cybersecurity matters, including our Cybersecurity team, Legal, Audit, Human Resources, and Corporate.</span></div><div style="margin-bottom:6pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">We frequently conduct training and awareness campaigns on information security and cybersecurity so that everyone receives guidance and can identify and report information security events or incidents, both in the corporate and industrial environments. These actions are intended to promote familiarity with our Information Security Policy. We also leverage internal communications to raise awareness and conduct phishing simulation exercises.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">We regularly review, test, and update our information security and cybersecurity processes by conducting penetration testing, vulnerability assessments, and attack simulations. Measures are implemented to deter, prevent, detect, and respond to unauthorized activities in our systems.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We annually conduct assessments of cybersecurity controls through independent consulting firms, which contribute to the evolution of the maturity on the subject. The results of these assessments are shared with the executive leadership, and relevant points are addressed throughout the year.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our information security risk management aims to identify, analyze, evaluate, and treat all of our information security risks, as a continuous and measurable process. Relevant information security risks are treated so that they are mitigated, avoided, or accepted. When mitigating, we seek to reduce the likelihood of damage to our assets and business impact whenever possible. Information security risks are periodically reported to the Cybersecurity Management, for the responsible Head, and our Senior Management. Furthermore, relevant information security incidents are also reported to the same responsible parties and, when applicable, to the Competent Authorities within the established deadline.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our business strategy, operational results, and financial situation have not been materially affected by information security risk or incident, including previous information security incidents. We cannot provide assurance that they will not be affected in the future by such risks and any future incidents.</span></div> true true <span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">We frequently conduct training and awareness campaigns on information security and cybersecurity so that everyone receives guidance and can identify and report information security events or incidents, both in the corporate and industrial environments. These actions are intended to promote familiarity with our Information Security Policy. We also leverage internal communications to raise awareness and conduct phishing simulation exercises.</span><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">We regularly review, test, and update our information security and cybersecurity processes by conducting penetration testing, vulnerability assessments, and attack simulations. Measures are implemented to deter, prevent, detect, and respond to unauthorized activities in our systems.</span></div> true false <div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Head of Technology </span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Head of Technology is primarily responsible for overseeing cybersecurity threat-related risks through the specific Cybersecurity management, and always connects with corporate risks. The Head of Technology has 30 years of experience in information technology, business management, operations and logistics acquired through the leadership of projects and in different types of industries such as consumer goods, electronics, metallurgy, steelmaking, and petrochemicals during 16 years of consulting, and 14 years at a global mining company.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At Suzano, she leads a robust Information Technology team, where one of the managements is responsible for Cybersecurity. In the position of Cybersecurity Manager, we have a leader with expertise in the subject and over 18 years of experience in Cybersecurity.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To fulfill this responsibility, it is equipped with information from established information security processes and controls, periodically reporting strategic indicators to the security committee, and to the audit and executive committees as requested.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Management</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have an internally formalized process, based on the ISO 27005 framework, that defines the management of cybersecurity risks, aiming to identify, monitor, and communicate information security risks that may impact the business through a systematic approach and a continuous process, monitoring and, whenever possible, reducing the likelihood of causing any type of damage to our assets. Risks are periodically reported to management, as well as relevant information security incidents.</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Board</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cybersecurity is periodically on the agenda of our Board of Directors, in addition to specific Cyber Committees within the company alongside executives. There is monitoring and reporting to the company's Audit team and Corporate Risk team, where Cybersecurity is also overseen by the Board on their respective agendas.</span></div> <div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At Suzano, she leads a robust Information Technology team, where one of the managements is responsible for Cybersecurity. In the position of Cybersecurity Manager, we have a leader with expertise in the subject and over 18 years of experience in Cybersecurity.</span></div> true we have a leader with expertise in the subject and over 18 years of experience in Cybersecurity. <div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To fulfill this responsibility, it is equipped with information from established information security processes and controls, periodically reporting strategic indicators to the security committee, and to the audit and executive committees as requested.</span></div> <div style="margin-bottom:10pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cybersecurity is periodically on the agenda of our Board of Directors, in addition to specific Cyber Committees within the company alongside executives. There is monitoring and reporting to the company's Audit team and Corporate Risk team, where Cybersecurity is also overseen by the Board on their respective agendas.</span></div> true There is monitoring and reporting to the company's Audit team and Corporate Risk team, where Cybersecurity is also overseen by the Board on their respective agendas. true PricewaterhouseCoopers Auditores Independentes Ltda. 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1060718000 9392000 1440503000 19113000 5002000 -9832727000 -20512741000 -26035297000 23871760000 15692905000 10944794000 -530655000 550581000 -3559286000 22353325000 9410807000 4296447000 1447973000 1325398000 1218399000 2208158000 1624653000 192532000 20668000 58467000 116924000 191918000 2806764000 880914000 -1819627000 -83765000 7798864000 6499821000 7921000 -920955000 9018818000 8345871000 9505951000 -338886000 665026000 -239125000 15179753000 9018818000 8345871000 6499821000 7921000 -920955000 <div style="margin-bottom:11pt"><span id="i2a2586c006ff4166afefc916aee45f1e"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1 COMPANY’S OPERATIONS</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Suzano S.A. (“Suzano”) and its subsidiaries (collectively the “Company”) is a public company with its headquarters in Brazil, at Professor Magalhães Neto Avenue, No. 1,752 - 10</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">th</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> floor, rooms 1010 and 1011, Pituba District, in the city of Salvador, State of Bahia, and its main business office in the city of São Paulo.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Suzano’s shares are traded on B3 S.A. (</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">“Brasil, Bolsa, Balcão - “B3”</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), listed in the New Market under the ticker SUZB3, and its American Depositary Receipts (“ADRs”) in a ratio of 1 (one) per common share, Level II, are traded in the New York Stock Exchange (“NYSE”) under the ticker SUZ.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has 16 industrial units, 14 located in Brazil in the cities of Cachoeiro de Itapemirim and Aracruz (Espírito Santo State), Belém (Pará State), Eunápolis and Mucuri (Bahia State), Maracanaú (Ceará State), Imperatriz (Maranhão State), Jacareí, Limeira, Mogi das Cruzes and two units in Suzano (São Paulo State) and Três Lagoas and Ribas do Rio Pardo (Mato Grosso do Sul State) and two units in United States located in the cities of Pine Bluff (Arkansas) and Waynesville (North Carolina). </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These units produce hardwood pulp from eucalyptus, coated paper, paperboard, uncoated paper and cut size paper and packages of sanitary paper (consumer goods - tissue) to serve the domestic and foreign markets. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also has six technology centers, four located in Brazil, one in China and one in Israel focused on product development and industrial process improvement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, it has a global logistics structure that supports its commercial and export operations. In Brazil, the Company has 29 distribution centers and four ports, strategically located for the distribution of its products. Abroad, the structure consists of approximately 73 terminals, distributed across Asia, Europe, the United States, Ecuador and Argentina.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pulp and paper are sold in foreign markets by Suzano, as well as through its wholly-owned subsidiaries and/or its sales offices in Argentina, Austria, China, Ecuador, United States of America and Singapore. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's operations also include the commercial management of eucalyptus forest for its own use, operation of port terminals, and holding of interests, as a partner or shareholder, in other companies or enterprises, and commercialization of electricity generated from its pulp production process.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is controlled by Suzano Holding S.A., through a voting agreement whereby it holds 49.28% of the common shares of its share capital (49.25% as of December 31, 2024).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These consolidated financial statements were authorized by the the Board of Directors on February 10, 2026.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ica439c1848d94e9b88858f4be3f26e75"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1.1 Equity interests</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company holds equity interests in the following entities:</span></div><div style="margin-bottom:10pt;padding-left:31.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:35.341%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.033%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.247%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.790%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.797%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">% equity interest</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Entity/Type of investment </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Main activity</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Country</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Consolidated</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">F&amp;E Tecnologia do Brasil S.A. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Biofuel production, except alcohol</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Fibria Celulose (USA) Inc. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Fibria Terminal de Celulose de Santos SPE S.A. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Port operations</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">FuturaGene Ltda. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Biotechnology research and development</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">England</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">FuturaGene Delaware Inc. (Indirect)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Biotechnology research and development</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 13pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">FuturaGene Israel Ltda. (Indirect)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Biotechnology research and development</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Israel</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">FuturaGene Inc. (Indirect)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Biotechnology research and development</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Maxcel Empreendimentos e Participações S.A. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Holding</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Itacel - Terminal de Celulose de Itaqui S.A. (Indirect)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Port operations</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Mucuri Energética S.A. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Power generation and distribution</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Paineiras Logística e Transportes Ltda. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Road freight transport</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Portocel - Terminal Espec. Barra do Riacho S.A. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Port operations</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">51.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">51.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Projetos Especiais e Investimentos Ltda. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Commercialization of equipment and parts</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">SFBC Participações Ltda. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Packaging production</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Argentina S.A.U (Direct) </span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Commercialization of paper and computer materials</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Argentina</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Austria GmbH. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Austria</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Canada Inc. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Lignin research and development</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Canada</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Ecuador S.A.S. (Direct) </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Ecuador</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Finland Oy (Direct) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Industrialization and commercialization of cellulose, microfiber cellulose and paper</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Finland</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano International Finance B.V (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Financial fundraising</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Netherlands</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano International Holding B.V. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Holding</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Netherlands</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano International Trade GmbH. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Austria</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Suzano Packaging LLC (Indirect) </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Production of coated and uncoated paperboard, used in the production of Liquid Packaging Board and Cupstock</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Material Technology Development Ltd. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Biotechnology research and development</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">China</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Netherlands B.V. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Financial fundraising</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Netherlands</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Operações Industriais e Florestais S.A. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Industrialization, commercialization and exporting of pulp</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Pulp and Paper America Inc. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Pulp and Paper Europe S.A. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Switzerland</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Shanghai Ltda. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">China</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Shanghai Trading Ltda. (Direct) </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">China</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Singapura Pte. Ltda. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Singapore</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Trading International KFT(Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Hungary</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Ventures LLC (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Corporate venture capital</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Joint operation</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:10pt;padding-left:31.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:35.341%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.033%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.247%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.790%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.797%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">% equity interest</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Entity/Type of investment </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Main activity</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Country</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Veracel Celulose S.A. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Industrialization, commercialization and exporting of pulp</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">50.00</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">50.00</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Equity</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Allotrope Energy Ltd (Indirect) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Research and development of battery technology based on carbon derived from lignin biomass</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">England</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20.00</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Biomas Serviços Ambientais, Restauração e Carbono S.A. (Direct) </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Restoration, conservation and preservation of forests</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16.66</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16.66</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Muçununga Serviços Ambientais, Restauração e Carbono Ltda. (Indirect) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Restoration, conservation and preservation of forests</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8.33</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Ensyn Corporation (Direct) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Biofuel research and development</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">24.80</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">F&amp;E Technologies LLC (Direct/Indirect) (5)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Biofuel production, except alcohol</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">50.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Ibema Companhia Brasileira de Papel (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Industrialization and commercialization of paperboard</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">49.90</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">49.90</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Simplifyber, Inc. (Indirect) </span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Production of consumer goods through the transformation of cellulose-based liquids</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14.20</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13.91</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Spinnova Plc. (Direct) (“Spinnova”)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Research of sustainable raw materials for the textile industry</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Finland</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18.76</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18.77</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Woodspin Oy (Direct/Indirect) (“Woodspin”) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Development and production of cellulose-based fibers, yarns and textile filaments</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Finland</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18.76</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">50.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Spinnova Refining Oy (Indirect) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Industrialization and commercialization of cellulose, microfiber cellulose and paper</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Finland</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18.76</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Fair value through other comprehensive income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Bem Agro Integração e Desenvolvimento S.A. (Indirect) </span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Software solutions based on artificial intelligence and computer vision for agribusiness</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.82</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.82</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Celluforce Inc. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Nanocrystalline pulp research and development</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Canada</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8.28</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8.28</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Lenzing Aktiengesellschaft (Indirect)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Production of wood-based cellulose fibers</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Austria</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Nfinite Nanotechnology Inc. (Indirect)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline"> </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Research and development of smart nanocoatings</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Canada</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4.90</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) On September 24, 2025, Biomas Serviços Ambientais, Restauração e Carbono S.A. reduced its ownership interest in Muçununga Serviços Ambientais, Restauração e Carbono Ltda. from 100% to 50%, which remains an indirect investee of Suzano S.A.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) On September 30, 2025, pursuant to the Advance Subscription Agreement (ASA) entered into in December 2022, the investment made through Suzano Ventures in Allotrope Energy Ltd, held indirectly by Suzano S.A., was converted into preferred shares, corresponding to 20% of the investee's share capital.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3) On October 3, 2025, the transaction with Spinnova Plc was completed, involving the transfer of the Company’s interest in Woodspin Oy and Suzano Finland Oy. Following the transaction, Suzano Finland Oy was renamed Spinnova Refining Oy, and Spinnova became the sole owner (100%) of both entities. The Company, in turn, retained an indirect interest in these companies.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4) On November 26, 2025, the Company sold its entire interest in Ensyn Corporation.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5) On December 29, 2025, the Company completed the liquidation of F&amp;E Technologies LLC.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ibe805031b45847cf8bb3791ca4e43258"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1.2 Major events in the year</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ib502cecbaf7d432685f39928cb317047"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1.2.1 Acquisition of an interest in a global tissue business </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 5, 2025, the Company announced that its wholly owned subsidiary, Suzano International Holding B.V., incorporated in the Netherlands, entered into an Equity and Asset Purchase Agreement with Kimberly-Clark Corporation (“K-C”) for the acquisition of 51% equity interest (the “Transaction”) in a newly formed company in the Netherlands (“Target Company”).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Transaction involves the acquisition of assets and businesses related to the manufacturing, marketing, distribution, and sale of tissue products in selected jurisdictions across the Americas, Europe, Asia, Africa, and Oceania. The Transaction includes 22 production facilities located in 14 countries. In addition, certain regional brands will be transferred to the Target Company, and certain global brands will be licensed by K-C to the Target Company in the relevant regions on a royalty-free, long-term basis.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">K-C will retain the remaining 49% ownership interest in the Target Company. The Transaction also includes a call option granted to Suzano to acquire K-C’s remaining 49% stake, exercisable from the third anniversary of the closing date or, under certain conditions, earlier.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The agreed purchase price for the 51% interest is USD1,734 billion (equivalent to R$9,541 billions) to be paid in cash in full at closing, is subject to customary adjustments applicable to transactions of this nature. The closing of the transaction is subject to the satisfaction of customary precedent conditions, including regulatory approvals and local corporate reorganizations, and is expected to occur by mid-2026.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In accordance with IFRS 3 – Business Combinations, the Company will assess, on the closing date, the appropriate accounting treatment of the transaction, based on its final scope and the nature of the assets and operations transferred to the Target Company.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of the issuance date of these financial statements, the Transaction has not had any accounting impacts on the Company’s consolidated financial information.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i58c24e9e51a84800bf1a84115456deba"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1.2.2 Share capital increase</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 10, 2025, the Board of Directors approved the increase in the Company's share capital, in the amount of R$5,000,000, without the issuance of new shares, pursuant to article 169, paragraph 1, of the Brazilian Corporation Law, paid in through the capitalization of the balance of the Capital Increase Reserve in the amount of R$2,807,632 and part of the balance of the Investment Reserve in the amount of R$2,192,368, pursuant to Article 199 of the Brazilian Corporation Law.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i77ac003fa64842e3aadc458527a10dde"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1.2.3 Interim Dividends </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 10, 2025, the Board of Directors approved the distribution of interim dividends by the Company, in the total amount of R$1,380,000, at the rate of R$1.11658725 per share, with payment made on February 4, 2026. The dividends were calculated based on the quarterly financial statements as of September 30, 2025, and were credited toward the mandatory minimum dividend for the fiscal year ended December 31, 2025.</span></div> 16 14 2 2 2 2 6000 4000 1000 1000 29 4 73 0.4928 0.4925 <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company holds equity interests in the following entities:</span></div><div style="margin-bottom:10pt;padding-left:31.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:35.341%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.033%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.247%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.790%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.797%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">% equity interest</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Entity/Type of investment </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Main activity</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Country</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Consolidated</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">F&amp;E Tecnologia do Brasil S.A. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Biofuel production, except alcohol</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Fibria Celulose (USA) Inc. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Fibria Terminal de Celulose de Santos SPE S.A. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Port operations</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">FuturaGene Ltda. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Biotechnology research and development</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">England</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">FuturaGene Delaware Inc. (Indirect)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Biotechnology research and development</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 13pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">FuturaGene Israel Ltda. (Indirect)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Biotechnology research and development</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Israel</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">FuturaGene Inc. (Indirect)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Biotechnology research and development</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Maxcel Empreendimentos e Participações S.A. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Holding</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Itacel - Terminal de Celulose de Itaqui S.A. (Indirect)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Port operations</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Mucuri Energética S.A. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Power generation and distribution</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Paineiras Logística e Transportes Ltda. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Road freight transport</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Portocel - Terminal Espec. Barra do Riacho S.A. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Port operations</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">51.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">51.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Projetos Especiais e Investimentos Ltda. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Commercialization of equipment and parts</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">SFBC Participações Ltda. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Packaging production</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Argentina S.A.U (Direct) </span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Commercialization of paper and computer materials</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Argentina</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Austria GmbH. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Austria</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Canada Inc. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Lignin research and development</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Canada</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Ecuador S.A.S. (Direct) </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Ecuador</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Finland Oy (Direct) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Industrialization and commercialization of cellulose, microfiber cellulose and paper</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Finland</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano International Finance B.V (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Financial fundraising</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Netherlands</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano International Holding B.V. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Holding</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Netherlands</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano International Trade GmbH. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Austria</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Suzano Packaging LLC (Indirect) </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Production of coated and uncoated paperboard, used in the production of Liquid Packaging Board and Cupstock</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Material Technology Development Ltd. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Biotechnology research and development</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">China</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Netherlands B.V. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Financial fundraising</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Netherlands</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Operações Industriais e Florestais S.A. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Industrialization, commercialization and exporting of pulp</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Pulp and Paper America Inc. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Pulp and Paper Europe S.A. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Switzerland</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Shanghai Ltda. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">China</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Shanghai Trading Ltda. (Direct) </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">China</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Singapura Pte. Ltda. (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Singapore</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Trading International KFT(Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Business office</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Hungary</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Suzano Ventures LLC (Direct)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Corporate venture capital</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">100.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">%</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Joint operation</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:10pt;padding-left:31.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:35.341%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.033%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.247%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.790%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.797%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">% equity interest</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Entity/Type of investment </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Main activity</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Country</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Veracel Celulose S.A. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Industrialization, commercialization and exporting of pulp</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">50.00</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">50.00</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Equity</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Allotrope Energy Ltd (Indirect) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Research and development of battery technology based on carbon derived from lignin biomass</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">England</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20.00</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Biomas Serviços Ambientais, Restauração e Carbono S.A. (Direct) </span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Restoration, conservation and preservation of forests</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16.66</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16.66</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Muçununga Serviços Ambientais, Restauração e Carbono Ltda. (Indirect) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Restoration, conservation and preservation of forests</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8.33</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Ensyn Corporation (Direct) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Biofuel research and development</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">24.80</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">F&amp;E Technologies LLC (Direct/Indirect) (5)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Biofuel production, except alcohol</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">50.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Ibema Companhia Brasileira de Papel (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Industrialization and commercialization of paperboard</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">49.90</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">49.90</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Simplifyber, Inc. (Indirect) </span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Production of consumer goods through the transformation of cellulose-based liquids</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">United States of America</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14.20</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13.91</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Spinnova Plc. (Direct) (“Spinnova”)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Research of sustainable raw materials for the textile industry</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Finland</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18.76</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18.77</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Woodspin Oy (Direct/Indirect) (“Woodspin”) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Development and production of cellulose-based fibers, yarns and textile filaments</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Finland</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18.76</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">50.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Spinnova Refining Oy (Indirect) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Industrialization and commercialization of cellulose, microfiber cellulose and paper</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Finland</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18.76</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Fair value through other comprehensive income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Bem Agro Integração e Desenvolvimento S.A. (Indirect) </span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Software solutions based on artificial intelligence and computer vision for agribusiness</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Brazil</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.82</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.82</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Celluforce Inc. (Direct)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Nanocrystalline pulp research and development</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Canada</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8.28</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8.28</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Lenzing Aktiengesellschaft (Indirect)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Production of wood-based cellulose fibers</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Austria</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Nfinite Nanotechnology Inc. (Indirect)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline"> </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Research and development of smart nanocoatings</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Canada</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4.90</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) On September 24, 2025, Biomas Serviços Ambientais, Restauração e Carbono S.A. reduced its ownership interest in Muçununga Serviços Ambientais, Restauração e Carbono Ltda. from 100% to 50%, which remains an indirect investee of Suzano S.A.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) On September 30, 2025, pursuant to the Advance Subscription Agreement (ASA) entered into in December 2022, the investment made through Suzano Ventures in Allotrope Energy Ltd, held indirectly by Suzano S.A., was converted into preferred shares, corresponding to 20% of the investee's share capital.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3) On October 3, 2025, the transaction with Spinnova Plc was completed, involving the transfer of the Company’s interest in Woodspin Oy and Suzano Finland Oy. Following the transaction, Suzano Finland Oy was renamed Spinnova Refining Oy, and Spinnova became the sole owner (100%) of both entities. The Company, in turn, retained an indirect interest in these companies.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4) On November 26, 2025, the Company sold its entire interest in Ensyn Corporation.</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5) On December 29, 2025, the Company completed the liquidation of F&amp;E Technologies LLC.</span></div> Biofuel production, except alcohol Brazil 1.0000 1.0000 Business office United States of America 1.0000 1.0000 Port operations Brazil 1.0000 1.0000 Biotechnology research and development England 1.0000 1.0000 Biotechnology research and development United States of America 1.0000 1.0000 Biotechnology research and development Israel 1.0000 1.0000 Biotechnology research and development United States of America 1.0000 1.0000 Holding Brazil 1.0000 1.0000 Port operations Brazil 1.0000 1.0000 Power generation and distribution Brazil 1.0000 1.0000 Road freight transport Brazil 1.0000 1.0000 Port operations Brazil 0.5100 0.5100 Commercialization of equipment and parts Brazil 1.0000 1.0000 Packaging production Brazil 1.0000 1.0000 Commercialization of paper and computer materials Argentina 1.0000 1.0000 Business office Austria 1.0000 1.0000 Lignin research and development Canada 1.0000 1.0000 Business office Ecuador 1.0000 1.0000 Industrialization and commercialization of cellulose, microfiber cellulose and paper Finland 1.0000 Financial fundraising Netherlands 1.0000 1.0000 Holding Netherlands 1.0000 1.0000 Business office Austria 1.0000 1.0000 Production of coated and uncoated paperboard, used in the production of Liquid Packaging Board and Cupstock United States of America 1.0000 1.0000 Biotechnology research and development China 1.0000 1.0000 Financial fundraising Netherlands 1.0000 1.0000 Industrialization, commercialization and exporting of pulp Brazil 1.0000 1.0000 Business office United States of America 1.0000 1.0000 Business office Switzerland 1.0000 1.0000 Business office China 1.0000 1.0000 Business office China 1.0000 1.0000 Business office Singapore 1.0000 1.0000 Business office Hungary 1.0000 1.0000 Corporate venture capital United States of America 1.0000 1.0000 Industrialization, commercialization and exporting of pulp Brazil 0.5000 0.5000 Research and development of battery technology based on carbon derived from lignin biomass England 0.2000 Restoration, conservation and preservation of forests Brazil 0.1666 0.1666 Restoration, conservation and preservation of forests Brazil 0.0833 Biofuel research and development United States of America 0.2480 Biofuel production, except alcohol United States of America 0.5000 Industrialization and commercialization of paperboard Brazil 0.4990 0.4990 Production of consumer goods through the transformation of cellulose-based liquids United States of America 0.1420 0.1391 Research of sustainable raw materials for the textile industry Finland 0.1876 0.1877 Development and production of cellulose-based fibers, yarns and textile filaments Finland 0.1876 0.5000 Industrialization and commercialization of cellulose, microfiber cellulose and paper Finland 0.1876 Software solutions based on artificial intelligence and computer vision for agribusiness Brazil 0.0582 0.0582 Nanocrystalline pulp research and development Canada 0.0828 0.0828 Production of wood-based cellulose fibers Austria 0.1500 0.1500 Research and development of smart nanocoatings Canada 0.0490 0.0500 1 0.50 0.51 22 14 0.49 0.49 0.51 1734 9541 5000000000 2807632000 2192368000 1380000000 1116.58725000 <div style="margin-bottom:11pt"><span id="idb589877f8144e12870278d09c8d5abe"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">2 BASIS OF PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s consolidated financial statements have been prepared in compliance with the International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) and disclose all the applicable significant information related to the financial statements, which is consistent with the information used by Management in the performance of its duties.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's consolidated financial statements are expressed in thousands of Brazilian Reais (“R$”) and disclosures of amounts in other currencies, when applicable, were also expressed in thousands, unless otherwise stated. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of consolidated financial statements requires Management to make judgments, use estimates and adopt policies in the process of applying accounting practices that affect the disclosed amounts of revenues, expenses, assets and liabilities, including the disclosure of contingent liabilities assumed. However, the uncertainty inherent to these judgements, assumptions and estimates could result in material adjustments to the carrying amount of certain assets and liabilities in future periods. The accounting practices requiring a higher level of judgment, and those which are more complex, as well as areas in which assumptions and estimates are significant, are disclosed in Note 3.2.19.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated financial statements were prepared on a historical costs basis, considering the historical cost as a value basis and adjusted to reflect the attributed cost of land and buildings on the date of transition to IFRS Accounting Standards, except for the following material items recognized:</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Derivative and non-derivative financial instruments measured at fair value;</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Share-based payments and employee benefits measured at fair value; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Biological assets measured at fair value; </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The material accounting policies applied to the preparation of these consolidated financial statements are presented in Note 3.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The consolidated financial statements were prepared under the going concern assumption.</span></div> <div style="margin-bottom:11pt"><span id="if7393d8dad0a429aa2d3ca0a8fb8cb7b"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3 SUMMARY OF MATERIAL ACCOUNTING POLICIES</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accounting policies have been consistently applied to all consolidated companies.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were no changes on such policies and estimates calculation methodologies, except for the application of the new accounting policies presented in note 3.1, adopted as of January 1, 2025.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i6e91b03e60bf412a9d51d5cde1f7681f"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.1 New accounting policies and changes in accounting policies adopted</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The new standards and interpretations issued, until the issuance of the Company’s consolidated financial statements, are described below. </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i00c4fc6effc843ee8b01dfb619a5e72c"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.1.1 Amendments to IAS 21: Lack of interchangeability (applicable for annual on/or after January 1, 2025)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The changes will create requirements for the entity to apply a consistent approach to assessing whether a currency is exchangeable for another currency and, when it is not, to determining the appropriate exchange rate to use and the disclosures to be made.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In this context, exchangeability is considered non-existent when, for a given purpose, the entity is unable to obtain more than an insignificant amount of foreign currency. To this end, the entity evaluates:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">the timeliness of obtaining foreign currency;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">the practical ability (and not the intention) to obtain foreign currency; It is</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">the available markets or exchange mechanisms that create enforceable rights and obligations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company assessed the content of this pronouncement and did not identify any impacts.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i5c5c1f9a48454f849816b0b9313d194f"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2 Accounting policies adopted</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The standards and interpretations issued up to the date of the Company's consolidated financial statements are described below.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ieb5616c479184a698993945af55a24ac"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.1 Financial statements</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iba86a06bbc96435abc8a4839320ef954"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.1.1 Consolidated financial statements</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">They are prepared using information from Suzano and its subsidiaries on the same base date, except for the subsidiary Suzano Packaging and the affiliates Biomas, Simplifyber, which have a lag of less than three months in relation to the base date of these financial statements, in accordance with the provisions of IAS 28. The Company evaluates the effects of timing differences and incorporates the impact of relevant events into the consolidated results. As of December 31, 2025, no material transactions were identified that would affect the financial position presented in the financial statements</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On </span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December 31, 2025</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, Suzano had an investment in the associate Spinnova, in the amount of R$54,393, representing 18.76% of the equity of this associate. Up to the date of this report, the latest financial statements published for this investment were more than three months out of date. In these circumstances, the investment is measured based on the latest information available, with the necessary adjustments being made as a result of the effects of significant transactions and events, which have no material effect on the consolidated result.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company consolidates all subsidiaries over which it has direct or indirect control, i.e. when it is exposed to or has the right to variable returns on its investment with the investee and has the ability to direct the relevant activities of the investee. When applicable, the participation of non-controlling shareholders is disclosed separately.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, all transactions and balances between Suzano and its subsidiaries, associates and joint operations were eliminated in consolidation, as well as the unrealized profits or losses arising from these transactions, net of tax effects, investments and the respective equity results.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ie0922d64705d439b90db8c2ae2bbdb97"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.2 Investments</span></div><div><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ia2a5e1e8e54f44c782f2aa2c1e3c527c"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.2.1 Subsidiaries</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These include all entities for which the Company has the power to govern the financial and operating policies, generally through a majority of voting rights. The Company controls an entity when the Company is exposed to, or has rights to, variable returns on its investment in the investee, and has the ability to affect those returns through its power over the entity. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Subsidiaries are consolidated from the date on which control is obtained and consolidated from the date on which control ceases.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i3183369fb44b4f079889de8b4a215e7f"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.2.2 Joint operations</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These include all entities for which the Company maintains contractually established control over its economic activity, and exists only when the strategic, financial and operational decisions regarding the activity requiring the unanimous consent of the parties sharing control.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the consolidated financial statements, the balance of assets, liabilities, revenue and expenses are recognized proportionally to the interest in joint operations.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i10359cab0c114a70a4b944c5ba7389d5"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.2.3 Associates and joint ventures</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the investments in associates, the Company must have significant influence, which means the power to participate in the financial and operating policy decisions of the investee, without having control or joint control over those policies. In investments in joint ventures, there is a contractually agreed sharing of control through an arrangement, which exists only when decisions about the relevant activities requiring the unanimous consent of the parties sharing control.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These include all entities initially recognized at cost and adjusted thereafter for the equity method, being increased or reduced from its interest in the investee's income after the acquisition date.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i1a3203963d224cecbfc5cf6471dbbac9"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.2.4 Business combinations</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These are accounted for using the acquisition method when control is transferred to the acquirer. The cost of an acquisition is the sum of the consideration paid, evaluated based on the fair value at the acquisition date, and the amount of any non-controlling interest in the acquiree. For each business combination, the Company recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquirer’s net assets. The costs directly attributable to the acquisition are recorded as expenses when they are incurred, except for costs related to the issuance of debt instruments or equity instruments, which are presented as reductions in debt or equity, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In a business combination, assets acquired and liabilities assumed are evaluated in order to classify and allocate them, assessing the terms of the agreement, the economic circumstances and other conditions at the acquisition date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill is initially measured as the excess of the consideration paid over the fair value of the net assets acquired. After initial recognition, goodwill is measured at cost, net of any accumulated impairment losses. For the purpose of impairment testing, the goodwill recognized in a business combination, as from the acquisition date, is allocated to each of the Company’s cash generating units. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gains on an advantageous purchase are recognized immediately in the result. The borrowing costs are recorded in the income statement as they are incurred.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Contingent liabilities related to tax, civil and labor, classified in the acquired company as possible and remote risks, are recognized by the acquirer at their fair values.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transactions involving the acquisition of shares with shared control over the net assets traded are evaluated in accordance with the complementary guidance to IFRS 3 - Business Combinations, IFRS 11 and IAS 28 - Investments in Associates and Joint Ventures to evaluate initial recognition criteria. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the investments defined based on the equity method, investments are initially recognized at cost. The carrying amount of the investment is adjusted for the recognition of changes in the Company's share of the acquirer's Shareholders' equity as at the acquisition date. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill is measured and segregated from the carrying amount of the investment. Other intangible assets identified in the transaction shall be allocated in proportion to the interest acquired by the Company, based on the difference between the carrying amounts recorded in the acquired entity and its fair value assets, which may be amortized.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ia131e891ba354bdbbcf1fbcec3ce3f8d"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.3 Translation of financial statements into the functional and presentation currency</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has determined that, for the parent company and all its subsidiaries, the functional and presentation currency is the Brazilian Real. The subsidiaries that are exceptions and do not have the Real as their functional currency are:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Suzano Packaging , a foreign subsidiary whose functional currency is the U.S. Dollar;</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Simplifyber, an overseas associate whose functional currency is the U.S. Dollar;</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Spinnova, an overseas associate whose functional currency is the Euro.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accumulated gains or losses of which affect the conversion of the financial statements, which are recorded in other comprehensive income, in equity.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The individual financial information of each of the subsidiaries, included in the consolidated financial statement, are prepared in the local currency in which the subsidiary operates and are translated into the Company’s functional and presentation currency.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ie6b42adcf6124bbea964aa65bc84d9a6"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.4 Transactions and balances in foreign currency</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These are translated using the following criteria:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Monetary assets and liabilities are translated at the exchange rate in effect at year-end;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Non-monetary assets and liabilities are translated at the historical rate of the transaction;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Revenue and expenses are translated based on monthly average rate; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">The cumulative effects of gains or losses upon translation are recognized in the financial results of the year.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The cumulative translation adjustment (“CTA”) arising from the translation of a foreign operation previously recognized in other comprehensive income are reclassified from equity to profit or loss at the disposal of the operations. The total or partial disposal of interest in wholly-owned subsidiaries occurs through sale or dissolution, of all or part of operation.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iba0b844f5a7943d2b2fec55489227747"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.5 Segment information</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">An operating segment is a component of the Company that carries out business activities from which it can obtain revenue and incur expenses. The operating segments reflect how the Company’s management reviews the financial information used to make decisions. The Company’s management has identified two reportable segments, which meet the quantitative and qualitative disclosure requirements, in accordance with the current management model (note 28).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The operating segments defined by Management are as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pulp: comprises the production and sale of short-fiber eucalyptus pulp and fluff pulp, primarily to supply the international market.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Paper: comprises the production and sale of paper to meet the demands of both domestic and international markets. Sales of consumer goods (tissue) are classified within this segment due to their immateriality.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i5c06c4d49c504c30a0b1b9f7735666a8"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.6 Financial instruments</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ic718108181c548c285620d92c1c25673"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.6.1 Classification</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments are classified based on the purpose for which the financial instruments were acquired, as set forth below:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Amortized cost;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Fair value through other comprehensive income; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Fair value through profit or loss.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regular purchases and sales of financial assets are recognized on the trade date, meaning the date on which the Company commits to purchase or sell the asset. Financial instruments are derecognized when the rights to receive cash flow from the investments have expired or have been transferred, substantially, all of the risks and rewards of ownership.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="if0c24c54d7694536823d32f528b1a7df"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.6.1.1 Financial instruments measured at amortized cost</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments held by the Company: (i) in order to receive their contractual cash flow and not to sell to realize a profit or loss; and (ii) whose contractual terms give rise, on specified dates, to cash flow that exclusively represents payments of principal and interest on the principal amount outstanding. They are initially recognized at fair value and subsequently measured at amortized cost using the effective interest rate method, and adjusted for foreign exchange and monetary variations incurred, when applicable. Any changes are recognized under financial income (expenses) in the income statement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Annually, the Company assesses whether there is evidence that a financial asset is impaired. A financial is impaired only if there is evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset, and that loss event has an impact on the estimated future cash flow of the financial asset that can be estimated reliably.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The criteria the Company uses to determine whether there is evidence of an impairment loss includes:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Significant financial difficulty of the issuer or debtor;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Defaults on or late payment of interest or principal under the agreement;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Where the Company, for economic or legal reasons relating to the borrower's financial difficulty, grants to the borrower a concession that a lender would not otherwise consider;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">It becomes probable that the borrower will enter bankruptcy or other financial reorganization;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(v)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.29pt">The disappearance of an active market for that financial asset because of financial difficulties; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(vi)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">Observable data indicating a measurable decrease in the estimated future cash flow from a portfolio of financial assets after the initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the portfolio.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of an impairment loss is measured at the difference between the carrying amount of the asset and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate. If the financial asset is impaired, the carrying amount of the asset is reduced and a loss is recognized in the income statement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If, in a subsequent remeasurement, if there is an improvement in the asset rating, such as an improvement in the debtor's credit rating, the reversal of the previously recognized impairment loss is recognized in the income statement. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Include cash on hand, bank deposits and highly liquid short-term investments with maturities, upon acquisition, of 90 days or less, which are readily convertible into known amounts of cash and subject to an insignificant risk of changes in value.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Trade accounts receivable</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These are recorded at their invoiced amounts, in the normal course of the Company´s business, adjusted for exchange rate variations where denominated in foreign currency and, if applicable, net of expected credit losses.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company applies an aging-based provision matrix with appropriate groupings for its portfolio. When necessary, based on individual analyses, the provision for expected losses is supplemented.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company examines the maturity of receivables on a monthly basis and identifies those customers with overdue balances, assessing the specific situation of each client, including the risk of loss, the existence of contracted insurance, letters of credit, collateral and the customer’s financial situation. In the event of default, collection attempts are made, which include direct contact with customers and collection efforts through third parties. Should these efforts prove unsuccessful, legal measures are considered, and expected credit losses are recognized. The notes are written off from the credit expected loss when Management considers that they are not recoverable after taking all appropriate measures to collect them.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Trade accounts payable and supplier finance arrangement</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Corresponds to the obligations payable for goods or services acquired in the normal course of the Company´s business.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Supplier finance arrangements are made available for suppliers to anticipate receivables related to the Company's routine purchases. In this transaction, financial institutions pay suppliers who opted for early receipt in exchange for a discount and, when agreed upon between financial institutions and suppliers (the decision to adhere to this transaction is exclusive to the suppliers), the Company pays the financial institutions the total nominal amount of the original obligation on the original payment date. Therefore, these transactions do not change the amounts, nature and timing of the liabilities (including terms, prices and conditions previously agreed upon) and do not affect the Company with the financial charges charged by financial institutions. Additionally, payments made by the Company are directly related to supplier invoices and do not change cash flows. Accordingly, the Company continues to recognize suppliers who opted for drawdown risk in operating activities in the statements of cash flows.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Loans, financing and debentures</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">General or specific borrowing costs, directly attributable to the acquisition, construction or production of a qualifying asset, are capitalized as a part of the cost of that asset when it is probable that they will provide future economic benefits for the entity, and that such cost can be measured with reliability. The Company does not have specific loans to obtain qualifying assets. Other loan costs are recognized as expenses in the period during which they are incurred.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i872d6d44a2234287ab797df7f7d780ae"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.6.1.2 Financial instruments at fair value through other comprehensive income</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments at fair value through other comprehensive income are financial assets held by the Company: (i) either to receive their contractual cash flow through sale with the realization of a profit or loss; and (ii) whose contractual terms give rise, on specified dates, to cash flows constituting, exclusively, repayments of principal and interest on the principal amount outstanding. In addition, this category includes investments in equity instruments where, upon initial recognition, the Company elected to present subsequent changes in its fair value within other comprehensive income. Any changes are recognized under net financial income (expenses) in the income statement, except for the fair value of investments in equity instruments, which are recognized in other comprehensive income.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Includes the balance presented in Note 14.1 as other investments evaluated at fair value through other comprehensive income.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For such financial assets, the Company periodically assesses whether there are significant or prolonged reductions in the fair value of the instrument below its cost, in order to identify potential impairment and the corresponding impairment loss, measured as the difference between the acquisition cost and the current fair value, less any loss previously recognized in other comprehensive income.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i70c7adc3eb824c42b610186d565567af"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.6.1.3 Financial instruments at fair value through profit or loss</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments at fair value through profit or loss are either designated in this category or not classified in any of the other categories. Any changes are recognized within financial income (expenses) in the income statement for non-derivative financial instruments and for financial derivative instruments within income from derivative financial instruments.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> Derivative financial instruments and hedging activities</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Hedging instruments are derivatives executed exclusively for the purpose of mitigating the Company’s financial risks.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Embedded derivatives in non-derivative main contracts are required to be separated when their risks and characteristics are not closely related to those of the respective main contracts, and these are not measured at fair value through profit or loss. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-option embedded derivatives are separated from the respective main contracts in accordance with the stated or implied substantive terms, so they have a zero fair value upon initial recognition.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i77c0a9f494354f39ba12de5e0aba4105"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.7 Inventories</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These are evaluated at the average acquisition or formation cost of the finished products, net of recoverable taxes, not exceeding their net realizable value.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finished products and work-in-process consist of raw materials, direct labor, production costs, freight, storage and general production expenses, which are related to the processes required to make the products available for sale.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Imports in transit are presented at the cost incurred up to the balance sheet date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Raw materials derived from biological assets are measured based on their fair value, less costs to sell at the point of harvest and freight costs.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provisions for obsolescence, adjustments to net realizable value, impaired items and slow-moving inventories are recorded when necessary. Usual production losses are recorded and are an integral part of the production costs for the respective month, whereas unusual losses, if any, are recorded directly as part of cost of sales.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i02800e12929f48efbf7da195cf3ec77b"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.8 Biological assets</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The biological assets for production (mature and immature forests) are reforested eucalyptus forests, with a formation cycle between planting and harvest from 6 to 7 years, measured at fair value. Depletion is measured based on the amount of biological assets depleted (harvested) and measured at fair value at the time of harvest.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the determination of the fair value, the income approach technique was applied, using the discounted cash flow model, according to the projected productivity cycle for these assets. The assumptions used to measure the fair value are reviewed every six months, as the Company considers that this interval is sufficient to ensure no significant gaps in the fair value balance of biological assets booked. Significant assumptions are presented in Note 13.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gain or loss on the assessment of fair value is recognized in operating income (expenses), net.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Biological assets in the process of formation under the age of 2 (two) years are recorded for at their formation cost. Areas of permanent environmental preservation are not recorded, because these are not characterized as biological assets, and are not included in the measurement at fair value.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i3fb32e3ab6914d34b903545ca5f36cdc"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.9 Property, plant and equipment</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Stated at their cost of acquisition, formation, construction or dismantling, net of recoverable taxes. This cost is deducted from the accumulated depreciation and accumulated impairment losses, when incurred, at the higher of the value in use or the proceeds from sale less cost to sell. The borrowing costs are capitalized as a component of construction in progress, at the weighted average rate of the Company’s debt at the capitalization date, adjusted for the equalization of exchange rate effects.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation is recognized based on the estimated economic useful life of each asset on a straight-line basis. The estimated useful lives, residual values and depreciation methods are reviewed annually, and the effects of any changes in estimates are accounted for prospectively. Land is not depreciated.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company performs an annual analysis of impairment indicators of property, plant and equipment. Impairment for losses on property, plant and equipment are only recognized if the related cash-generating unit is devalued, or if the asset’s recoverable amount is less than its carrying amount. The recoverable amount of the asset or cash-generating unit is the higher of its value in use, and its fair value less costs to sell.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The cost of major renovations is capitalized if the future economic benefits exceed the performance standards initially estimated for the asset and are then depreciated over the remaining useful life of the related asset.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Repairs and maintenance are expensed as incurred.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gains and losses on disposals of property, plant and equipment are measured by comparing the proceeds with the book value and are recognized as other operating income (expenses), net, at the disposal date.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i563d36dc2ffb4981aabc7e13351f503f"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.10 Leases</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A contract is, or contains, a lease if the right to control the use of an identified asset for a period of time is transferred in exchange for consideration, for which it is necessary to assess whether:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">The contract involves the use of an identifiable asset, which may be explicit or implicit, and may be physically distinct or represent almost the entire capacity of a physically distinct asset. If the supplier has a substantial right to replace the asset, then the asset is not identified; </span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">The Company has the right to obtain substantially all the economic benefits from the use of the asset during the contract period; and </span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">The Company has the right to direct the use of the asset, meaning the Company has the right to decide to change how and for what purpose the asset is used, if: </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">It has the right to operate the asset, or </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">It designed the asset, in a way that predetermines how and for what purpose it will be used. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the beginning of the contract, the Company recognizes a right-of-use asset and a lease liability that represents the obligation to make payments related to the asset underlying the lease. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The right-to-use asset is initially measured at cost, which includes the initial amount of the lease liability adjusted for any payments made up to the contract start date, plus any direct initial costs incurred, and estimated costs of disassembly, removal, or restoration of the asset in the place where it is located, less any incentives received.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The right-to-use asset is subsequently depreciated using the straight-line method from the start date to the end of the useful life of the right to use, or the end of the lease term, whichever is shorter. Except for land agreements that are automatically extended for the same period through a notification to the lessor, other agreements are not allowed automatic renewals for an indefinite period, since both parties have the right to terminate the agreements.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The lease liability is initially measured at the present value of the payments not made, less the incremental loan rate.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">In future payments resulting from a change in index or rate;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">In the estimate of the expected amount to be paid, at the guaranteed residual value; or</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">In the assessment of whether the Company will exercise the purchase option, extension or termination.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When the lease liability is remeasured, the corresponding adjustment amount is recorded in the book value of the right-of-use asset, or in the statement of profit and loss, if the book value of the right-of-use asset has been reduced to zero.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company does not have lease agreements with clauses imposing:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Variable payments that are based on the performance of the leased assets;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Guarantees of residual value; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Restrictions, such as, for example, an obligation to maintain financial ratios.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Short-term or low-value contracts which are exempt from these standards are contracts where the individual value of the assets is lower than USD5, and for which the maturity date is shorter than 12 months, are expensed as incurred.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i8be493ede85e49d18be08a3478549d11"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.11 Intangible assets</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These are measured at cost at the time when they are initially recognized. The cost of intangible assets acquired during a business combination corresponds to the fair value at the acquisition date. After initial recognition, intangible assets are presented at cost less accumulated amortization and impairment losses, when applicable.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The useful life of intangible assets are assessed as finite or indefinite.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangible assets with a finite life are amortized over the economically useful lives and reviewed for impairment whenever there is an indication that their carrying values may be impaired. The amortization period and method for intangible assets with finite useful lives are reviewed at least at the end of each fiscal year. The amortization of intangible assets with finite useful lives is recognized in the statement of income as an expense related to its use, and in line with the economically useful life of the intangible asset.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Amortization of supplier and port services contracts, port concessions, lease agreements, and cultivars is recognized in cost of sales. Amortization of customer relationships is recognized in selling and marketing expenses. Amortization of trademarks and patents, non-compete agreements, research and development agreements, and system development and implementation costs is recognized in general and administrative expenses. Amortization of software is recognized based on its functional use and may be included in cost of sales, selling or general and administrative expenses.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangible assets with indefinite useful lives are not amortized, but are tested annually for impairment losses, individually or at the CGU level. The allocation is made to the CGU or group of CGUs that represents the lowest level within the entity for which goodwill is monitored for management's internal purposes, that has benefited from the business combination. The Company mainly records in this subgroup goodwill for expected future profitability (goodwill) and easement of passage.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This testing involved the adoption of significant assumptions and judgments, disclosed in Note 16.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="ic6ece9c956524343aef03f24d9fb655d"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.12 Current and deferred income tax and social contribution and uncertainty over income tax treatments (IFRIC 23)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income taxes include income tax and social contribution on net income, current and deferred. These taxes are recognized in the income statement, except to the extent that they relate to items recognized directly in equity. In this case, they are recognized in equity under other reserves.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Subsidiaries domiciled in Brazil have their taxes calculated and provisioned in accordance with the current legislation and their specific tax regime, including, in some cases, the presumed profit method. Subsidiaries domiciled abroad are subject to taxation in their respective jurisdictions, according to local regulations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The current charge is calculated based on the tax laws enacted in the countries in which the Company and its subsidiaries and affiliates operate and generate taxable income. Management periodically evaluates the positions assumed in the income tax returns with respect to situations in which the applicable tax regulations give rise to interpretations and establishes provisions, when appropriate, based on the amounts that must be paid to the tax authorities.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax and contribution liabilities are recognized on temporary differences between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred taxes and contributions are determined based on the rates in force on the balance sheet date, and which must be applied when they are realized or settled.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax assets and contributions are recognized to the extent that it is probable that future taxable profits will be available for use to offset temporary differences, based on the projections of future results prepared and based on internal assumptions and future economic scenarios that may, therefore, undergo changes.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The projection for the realization of deferred tax assets was prepared based on Management's estimates that are based on significant judgments and assumptions relating to net average pulp and paper prices, and the transfer prices with the subsidiaries based in Austria. However, there are other assumptions that are not under the control of the Company, such as inflation rates, exchange rates, pulp prices in the international market, and other economic uncertainties in Brazil, which mean that future results may differ from those considered in the preparation of the consolidated projection.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred income tax and social contribution are recognized on temporary differences arising from investments in subsidiaries and associates, except when the timing of the reversal of temporary differences is controlled by the Company, and if it is probable that the temporary differences will not be reversed in the foreseeable future.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax and contribution assets and liabilities are offset and presented at their net amounts in the balance sheet whenever they are related to the same legal entity and the same tax authority. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The parcel of the adjustment of the value of the investment in subsidiaries, direct and indirect, domiciled abroad, equivalent to the profit earned by them before income tax, except for exchange rate variation, is added in the determination of taxable income and the social contribution calculation basis of the controlling entity domiciled in Brazil, at each year ended.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i55568776cc4b44a18d6a5a76ac17b77c"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.13 Provisions, contingent assets and liabilities</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Contingent assets are not recorded. Recognition is only performed when there are guarantees or favorable judicial decisions and the amounts of these can be measured reliably. Contingent assets for which such conditions are not met are only disclosed in the notes to the financial statements when their amounts are material.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provisions for liabilities are made to the extent that the Company expects that is probable that it will disburse cash, and the amount can be reliably estimated. Tax, civil, environmental and labor proceedings are accrued when losses are assessed as probable, and the amounts involved can be measured reliably, being recorded net of judicial deposits, under “provisions for judicial liabilities”. When the expectation of loss is possible, a description of the processes and amounts involved is disclosed in the notes to the financial statements. Contingent liabilities assessed as representing remote losses are neither accrued nor disclosed.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Contingent liabilities arising from business combinations are recognized if they arise from a present obligation as a result of from past events, and if their fair values can be measured reliably, and are subsequently measured at the higher of:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">The amount that would be recognized in accordance with the accounting policy for the provisions above that comply with IAS 37; or</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">The amount initially recognized less, where appropriate, revenue recognized in accordance with the accounting treatment of revenue from customer contracts under IFRS 15.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Principal and penalties amounts related to Tax, civil, environmental and labor proceedings are under other operating income and expenses and the interest is recognized in the net financial result.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The realization of provisions for judicial liabilities and contingent liabilities arising from business combinations, with possible and remote probability of loss, are recognized under other operating income and expenses or cash depending on the court decision.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="icb6a603dc2074ba2bdc5b9877cb87d76"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.14 Share based payments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s executives and managers receive part of their compensation through share-based payment plans, settled in cash and shares.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Expenses related to these plans are recognized in the income statement as administrative expenses over the vesting period, based on the fair value determined at the grant date for equity-settled plans and remeasured at each reporting date for cash-settled plans. The changes in the fair value of cash-settled plans are recognized under administrative expenses in the statement of profit or loss. The corresponding entry is recognized in non-current liabilities for cash-settled plans and in shareholders’ equity for equity-settled plans.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i4bca7e80fdfd4757a7445a2d112c2022"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.15 Employee benefits</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company offers benefits through a supplementary contribution plan to all employees, as well as medical assistance and life insurance for a determined group of former employees, and for the latter two benefits an annual actuarial appraisal is prepared by an independent actuary, and are reviewed by Management. The respective impact is recognized in employee benefit plans.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Actuarial gains and losses are recognized in other reserves when incurred. The interest incurred, resulting from changes in the present value of the actuarial liability, is recorded in the income statement within financial expenses.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i47f6d82ea1d446d6ae98a82584986113"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.16 Government grants and assistance</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Government grants and assistance are recognized at fair value when it is reasonably certain that the conditions established by the granting Governmental Authority were observed, and that these subsidies will be obtained. These are recorded as deductions expenses in the income statement for the period of enjoyment of the benefit, and subsequently allocated to the tax incentives reserve under shareholders’ equity, when applicable.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="ifc5b7537b6df467dbaaf7cb4f8e0d0fb"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.17 Revenue recognition</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue from contracts with customers is recognized at the time when control of the products is transferred to customers, represented by the ability to determine the use of products and obtain substantially all the remaining benefits from the products.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the Pulp operating segment, revenue recognition occurs when control is transferred to the buyer who assumes the remaining benefits of the asset and is based on the parameters provided by: (i) International Commercial Terms (“Incoterms”), when destined for the foreign market; and (ii) lead times, when destined for the internal market.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the Paper and Consumer Goods operating segments, revenue is also recognized upon the transfer of control to the customer, based on (i) the applicable Incoterms and (ii) the lead time, for transactions carried out in both foreign and domestic markets.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue is measured at the fair value of the consideration received or receivable, net of taxes, returns, rebates and discounts, and recognized in accordance with the accrual basis of accounting, when the amount can be reliably measured.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accumulated experience is used to estimate and provide for rebates and discounts, using the expected value method, and revenue is only recognized to the extent that it is highly unlikely that a significant reversal will occur. A provision for reimbursement (included in trade accounts receivable) is recognized for expected rebates and discounts payable to customers in relation to sales made until the end of the reporting period. No significant element of financing is deemed to be present, as sales are made with short credit terms.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i00eb950b2a3848af89434e9445561881"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.18 Employee and management profit sharing</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Employees are entitled to profit sharing based on certain goals agreed annually. For the Administrators, the basis is the legal and statutory provisions proposed by the Board of Directors and approved by the shareholders are used as a basis. Provisions for participation are recognized in the payroll and charges against to administrative expenses during the period in which the targets are attained.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i5ae52160b743467394571795a20b1487"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.19 Material accounting judgments, estimates and assumptions</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As disclosed in Note 2, Management applied judgments, estimates, and accounting assumptions to reflect future conditions and expectations. Such assumptions, based on available information and relevant economic factors, may involve uncertainties that could result in significant changes in the carrying amounts of assets, liabilities, income, and expenses in subsequent periods. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company reviews the estimates and underlying assumptions used in its accounting estimates on an annual basis. Revisions to the accounting estimates are recognized in the period during which the estimates are revised. The main matters subject to these estimates are presented below:</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fair value of financial instruments (Note 4):</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The measurement of the fair value of financial instruments requires significant management judgment, especially for transactions contracted in over-the-counter markets or with low liquidity. These calculations involve assumptions regarding future interest rates, foreign exchange coupon curves, volatility, commodity prices, and counterparties’ credit risk, using models such as discounted cash flow and Garman-Kohlhagen for options. The estimates consider normal market conditions at the reporting date, without forced liquidation, and rely on observable inputs (rates, curves, volatilities) and unobservable inputs (spreads and risk adjustments), in accordance with IFRS 13 fair value hierarchy. Changes in these assumptions, such as variations in interest rate curves, exchange rates, or input prices, may significantly impact the fair values recognized, affecting assets, liabilities, and the results for the period.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main risks arise from the volatility of financial markets and the sensitivity of the assumptions used in fair value measurement. Abrupt changes in exchange rates, interest rates, or commodity prices may result in significant adjustments to derivative and non-derivative financial instruments, influencing profit or loss and equity. In addition, external factors such as economic crises, regulatory changes, or reduced liquidity may affect the reliability of the estimates, increasing the subjectivity of the calculations. As these instruments are predominantly classified within Level 2 of the fair value hierarchy, there is greater reliance on internal models and unobservable inputs, which increases the degree of uncertainty. Suzano mitigates these risks through robust financial policies, daily monitoring of positions, sensitivity analyses, and periodic reviews of the assumptions used.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Annual analyses of the recoverability of taxes (Notes 9 and 12):</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The annual assessment of the recoverability of taxes is essential to ensure that deferred tax assets and tax credits recognized by Suzano appropriately reflect the expectation of future realization. These assets depend on projections of taxable results, offsetting plans, and interpretations of tax legislation, requiring significant management judgment. The determination of recoverability involves assumptions regarding economic growth, future profitability, the utilization of tax losses and negative bases of corporate income tax and social contribution, as well as the assessment of risks related to uncertain tax positions in accordance with ICPC 22/IFRIC 23.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As these estimates are sensitive to changes in the economic and regulatory environment, their proper measurement is critical to the transparency and reliability of the financial statements.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main risks arise from uncertainty regarding the generation of sufficient taxable profits to realize tax credits, as well as the possibility of changes in legislation or tax interpretations that may affect the utilization of these assets. Changes in profit projections, revisions to strategic plans, or unfavorable decisions in tax disputes may lead to the need for significant adjustments to the recorded balances. In addition, because this assessment involves judgments about future scenarios and complex tax positions, there is a risk of volatility in profit or loss and equity if the assumptions do not materialize. Suzano mitigates these risks through periodic reviews, support from legal opinions, and continuous monitoring of tax contingencies.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fair value of biological assets (Note 13):</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The measurement of the fair value of biological assets is essential to appropriately reflect, in Suzano’s financial statements, the economic value of the eucalyptus forests used as raw material in pulp production. This process involves significant assumptions, such as mean annual increment (IMA), wood prices, establishment costs, land opportunity cost, discount rate (WACC), and inflation, all based on long-term projections and region-specific conditions. As these variables are sensitive to changes in market conditions, climate, and productivity, the judgments and estimates applied by Management have a direct impact on the carrying amount of the assets and, consequently, on the Company’s results.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main risks arise from the inherent uncertainty in the assumptions used to calculate fair value. Variations in wood prices, forest growth rates (IMA), establishment costs, or the discount rate may result in significant adjustments to biological assets and affect operating results. In addition, external factors such as regulatory changes, climatic events, pests, or fires may impact productivity and projected cash flows, increasing fair value volatility. As this measurement is classified as Level 3 in the IFRS 13 fair value hierarchy and is based on unobservable inputs, there is a higher degree of subjectivity and a need for robust controls to ensure the reliability of the information.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Annual analysis recoverable amount of goodwill (Note 16):</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill is tested for recoverability annually or whenever there are indications of impairment. For testing purposes, assets are allocated to the Cash-Generating Units (CGUs) to which the goodwill is associated. The recoverable amount is determined based on value in use, calculated from discounted cash flows, considering financial projections approved by Management for a five-year horizon, plus a long-term growth rate for subsequent periods.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Key assumptions include the discount rate (WACC), which reflects the weighted average cost of capital adjusted for business risk and market conditions; the perpetuity growth rate, based on sustainable growth expectations for the sector; operating margins, estimated according to historical performance and market outlook; and revenue projections, based on macroeconomic assumptions, competitive dynamics, and strategic plans.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These assumptions involve significant judgment and are subject to uncertainties, particularly regarding the discount rate, where variations can substantially impact the recoverable amount; the growth rate, where changes can reduce the test’s safety margin; and operational performance, which may be affected by changes in the economic or competitive environment, impacting revenue and margin projections. If these assumptions do not materialize, an impairment loss may need to be recognized in future periods.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Provision for judicial liabilities (Note 20):</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is a party to judicial and administrative proceedings of a tax, civil, environmental and labor nature. A provision for legal contingencies is recognized when there is a present obligation arising from past events and when Management, based on the opinion of legal counsel, considers an outflow of resources to settle the obligation to be probable and the amount involved can be reliably estimated.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount provided is calculated taking into account the probability of loss, classified as probable, possible or remote according to legal assessment; the estimated cash outflow, based on the history of decisions, applicable case law and the procedural stage of the cases; and monetary restatement and charges, applied in accordance with applicable legislation.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Significant assumptions include legal interpretation, as changes in case law or decisions by higher courts may significantly affect the probability of loss; the estimation of amounts, which may vary as a result of new calculations, expert reports or updates to legal bases; and the regulatory environment, since legislative changes may impact the obligation or the estimated amount.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The provisions involve significant judgments and are subject to uncertainties, especially in long-term proceedings or cases involving complex matters. Should there be changes in assumptions or in legal interpretation, additional provisions may be recognized or reversals may occur in future periods. </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i4fac3b6e54494d76b1a340b4f0d3a47e"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.3 Accounting policies not yet adopted</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The new and changed standards and interpretations issued, but not yet adopted up to December 31, 2025, are described below. The Company intends to adopt these new standards, changes and interpretations, if applicable, when they come into force, and does not expect them to have a material impact on the financial statements except for the IFRS 18 as disclosed below.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i087aeb7dd3b84964bd742308497b1553"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.3.1 Amendment to IFRS 9 and IFRS 7 - Classification and Measurement of Financial Instruments (applicable for annual on/or after January 1, 2026)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On 30 May 2024, the IASB issued targeted amendments to IFRS 9 and IFRS 7 to respond to recent questions arising in practice, and to include new requirements not only for financial institutions but also for corporate entities. These amendments:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">clarify the date of recognition and derecognition of some financial assets and liabilities,with a new exception for some financial liabilities settled through an electronic cash transfer system;</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion;</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">add new disclosures for certain instruments with contractual terms that can change cash flows (such as some financial instruments with features linked to the achievement of environment, social and governance targets); and</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI).</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ic60449ecf8d74f1399595b1f54afb308"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.3.2 IFRS 18 Presentation and Disclosure in Financial Statements (applicable for annual on/or after January 1, 2027)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In April 2024, the IASB issued IFRS 18 – Presentation and Disclosure in Financial Statements, which will replace IAS 1 – Presentation of Financial Statements, introducing new requirements with the aim of increasing the comparability of financial performance between entities and providing more relevant and transparent information to users of financial statements.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although IFRS 18 does not change the recognition or measurement of items, significant impacts are expected on the presentation and disclosure of financial statements, especially with regard to the structure of the income statement, the disclosure of performance measures defined by management, the principles of aggregation and disaggregation of information, and certain aspects of the cash flow statement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is currently assessing the impacts of adopting IFRS 18 on its consolidated financial statements. Based on a preliminary assessment, the following possible effects stand out, among others: changes in the presentation of results, resulting from the new classification of revenues and expenses into standardized categories and the introduction of new subtotals; possible adjustments in the presentation of the main financial statements, with the regrouping or greater detail of certain lines, in accordance with the new principles of aggregation and disaggregation; new disclosure requirements related to performance measures defined by Management; and adjustments in the presentation of the cash flow statement, in accordance with the new requirements of the standard.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">IFRS 18 is effective for fiscal years beginning on or after January 1, 2027, with retrospective application, so that comparative information for the fiscal year ended December 31, 2026, will be restated upon initial adoption of the standard.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i2924b7673b1c4ad486396acadc734bfa"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.3.3 IFRS 19 Subsidiaries without Public Accountability: Disclosures (applicable for annual on/or after January 1, 2027)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Issued in May 2024, IFRS 19 allows for certain eligible subsidiaries of parent entities that report under IFRS Accounting Standards to apply reduced disclosure requirements.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i333253ab1dc049a6b35302221d6ceef9"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.3.4 Amendment to IAS 21 - Effects of Changes in Foreign Exchange Rates (applicable for annual on/or after January 1, 2027)</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:-4.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On 13 November 2025, the IASB issued targeted amendments to IAS 21 specifying the procedures to be applied for translating amounts from a functional currency of a non‑hyperinflationary economy into a presentation currency of a hyperinflationary economy.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="if09fcdc41d7548d69129af5527e28903"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.3.5 Annual Improvements to IFRS Accounting Standards – Volume 11</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These amendments are intended to enhance clarity in the wording of certain standards (IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7) and to remedy omissions, inconsistencies or unintended effects resulting from the application of such standards.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i6e91b03e60bf412a9d51d5cde1f7681f"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.1 New accounting policies and changes in accounting policies adopted</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The new standards and interpretations issued, until the issuance of the Company’s consolidated financial statements, are described below. </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i00c4fc6effc843ee8b01dfb619a5e72c"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.1.1 Amendments to IAS 21: Lack of interchangeability (applicable for annual on/or after January 1, 2025)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The changes will create requirements for the entity to apply a consistent approach to assessing whether a currency is exchangeable for another currency and, when it is not, to determining the appropriate exchange rate to use and the disclosures to be made.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In this context, exchangeability is considered non-existent when, for a given purpose, the entity is unable to obtain more than an insignificant amount of foreign currency. To this end, the entity evaluates:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">the timeliness of obtaining foreign currency;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">the practical ability (and not the intention) to obtain foreign currency; It is</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">the available markets or exchange mechanisms that create enforceable rights and obligations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company assessed the content of this pronouncement and did not identify any impacts.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i5c5c1f9a48454f849816b0b9313d194f"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2 Accounting policies adopted</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The standards and interpretations issued up to the date of the Company's consolidated financial statements are described below.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ieb5616c479184a698993945af55a24ac"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.1 Financial statements</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iba86a06bbc96435abc8a4839320ef954"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.1.1 Consolidated financial statements</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">They are prepared using information from Suzano and its subsidiaries on the same base date, except for the subsidiary Suzano Packaging and the affiliates Biomas, Simplifyber, which have a lag of less than three months in relation to the base date of these financial statements, in accordance with the provisions of IAS 28. The Company evaluates the effects of timing differences and incorporates the impact of relevant events into the consolidated results. As of December 31, 2025, no material transactions were identified that would affect the financial position presented in the financial statements</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On </span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">December 31, 2025</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, Suzano had an investment in the associate Spinnova, in the amount of R$54,393, representing 18.76% of the equity of this associate. Up to the date of this report, the latest financial statements published for this investment were more than three months out of date. In these circumstances, the investment is measured based on the latest information available, with the necessary adjustments being made as a result of the effects of significant transactions and events, which have no material effect on the consolidated result.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company consolidates all subsidiaries over which it has direct or indirect control, i.e. when it is exposed to or has the right to variable returns on its investment with the investee and has the ability to direct the relevant activities of the investee. When applicable, the participation of non-controlling shareholders is disclosed separately.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, all transactions and balances between Suzano and its subsidiaries, associates and joint operations were eliminated in consolidation, as well as the unrealized profits or losses arising from these transactions, net of tax effects, investments and the respective equity results.</span></div> 54393000 0.1876 <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ia2a5e1e8e54f44c782f2aa2c1e3c527c"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.2.1 Subsidiaries</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These include all entities for which the Company has the power to govern the financial and operating policies, generally through a majority of voting rights. The Company controls an entity when the Company is exposed to, or has rights to, variable returns on its investment in the investee, and has the ability to affect those returns through its power over the entity. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Subsidiaries are consolidated from the date on which control is obtained and consolidated from the date on which control ceases.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i3183369fb44b4f079889de8b4a215e7f"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.2.2 Joint operations</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These include all entities for which the Company maintains contractually established control over its economic activity, and exists only when the strategic, financial and operational decisions regarding the activity requiring the unanimous consent of the parties sharing control.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the consolidated financial statements, the balance of assets, liabilities, revenue and expenses are recognized proportionally to the interest in joint operations.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i10359cab0c114a70a4b944c5ba7389d5"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.2.3 Associates and joint ventures</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the investments in associates, the Company must have significant influence, which means the power to participate in the financial and operating policy decisions of the investee, without having control or joint control over those policies. In investments in joint ventures, there is a contractually agreed sharing of control through an arrangement, which exists only when decisions about the relevant activities requiring the unanimous consent of the parties sharing control.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These include all entities initially recognized at cost and adjusted thereafter for the equity method, being increased or reduced from its interest in the investee's income after the acquisition date.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i1a3203963d224cecbfc5cf6471dbbac9"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.2.4 Business combinations</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These are accounted for using the acquisition method when control is transferred to the acquirer. The cost of an acquisition is the sum of the consideration paid, evaluated based on the fair value at the acquisition date, and the amount of any non-controlling interest in the acquiree. For each business combination, the Company recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the acquirer’s net assets. The costs directly attributable to the acquisition are recorded as expenses when they are incurred, except for costs related to the issuance of debt instruments or equity instruments, which are presented as reductions in debt or equity, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In a business combination, assets acquired and liabilities assumed are evaluated in order to classify and allocate them, assessing the terms of the agreement, the economic circumstances and other conditions at the acquisition date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill is initially measured as the excess of the consideration paid over the fair value of the net assets acquired. After initial recognition, goodwill is measured at cost, net of any accumulated impairment losses. For the purpose of impairment testing, the goodwill recognized in a business combination, as from the acquisition date, is allocated to each of the Company’s cash generating units. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gains on an advantageous purchase are recognized immediately in the result. The borrowing costs are recorded in the income statement as they are incurred.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Contingent liabilities related to tax, civil and labor, classified in the acquired company as possible and remote risks, are recognized by the acquirer at their fair values.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Transactions involving the acquisition of shares with shared control over the net assets traded are evaluated in accordance with the complementary guidance to IFRS 3 - Business Combinations, IFRS 11 and IAS 28 - Investments in Associates and Joint Ventures to evaluate initial recognition criteria. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the investments defined based on the equity method, investments are initially recognized at cost. The carrying amount of the investment is adjusted for the recognition of changes in the Company's share of the acquirer's Shareholders' equity as at the acquisition date. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill is measured and segregated from the carrying amount of the investment. Other intangible assets identified in the transaction shall be allocated in proportion to the interest acquired by the Company, based on the difference between the carrying amounts recorded in the acquired entity and its fair value assets, which may be amortized.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ia131e891ba354bdbbcf1fbcec3ce3f8d"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.3 Translation of financial statements into the functional and presentation currency</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has determined that, for the parent company and all its subsidiaries, the functional and presentation currency is the Brazilian Real. The subsidiaries that are exceptions and do not have the Real as their functional currency are:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Suzano Packaging , a foreign subsidiary whose functional currency is the U.S. Dollar;</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Simplifyber, an overseas associate whose functional currency is the U.S. Dollar;</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Spinnova, an overseas associate whose functional currency is the Euro.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accumulated gains or losses of which affect the conversion of the financial statements, which are recorded in other comprehensive income, in equity.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The individual financial information of each of the subsidiaries, included in the consolidated financial statement, are prepared in the local currency in which the subsidiary operates and are translated into the Company’s functional and presentation currency.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ie6b42adcf6124bbea964aa65bc84d9a6"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.4 Transactions and balances in foreign currency</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These are translated using the following criteria:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Monetary assets and liabilities are translated at the exchange rate in effect at year-end;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Non-monetary assets and liabilities are translated at the historical rate of the transaction;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Revenue and expenses are translated based on monthly average rate; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">The cumulative effects of gains or losses upon translation are recognized in the financial results of the year.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The cumulative translation adjustment (“CTA”) arising from the translation of a foreign operation previously recognized in other comprehensive income are reclassified from equity to profit or loss at the disposal of the operations. The total or partial disposal of interest in wholly-owned subsidiaries occurs through sale or dissolution, of all or part of operation.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iba0b844f5a7943d2b2fec55489227747"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.5 Segment information</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">An operating segment is a component of the Company that carries out business activities from which it can obtain revenue and incur expenses. The operating segments reflect how the Company’s management reviews the financial information used to make decisions. The Company’s management has identified two reportable segments, which meet the quantitative and qualitative disclosure requirements, in accordance with the current management model (note 28).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The operating segments defined by Management are as follows:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pulp: comprises the production and sale of short-fiber eucalyptus pulp and fluff pulp, primarily to supply the international market.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Paper: comprises the production and sale of paper to meet the demands of both domestic and international markets. Sales of consumer goods (tissue) are classified within this segment due to their immateriality.</span></div> 2 <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i5c06c4d49c504c30a0b1b9f7735666a8"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.6 Financial instruments</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ic718108181c548c285620d92c1c25673"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.6.1 Classification</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments are classified based on the purpose for which the financial instruments were acquired, as set forth below:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Amortized cost;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Fair value through other comprehensive income; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Fair value through profit or loss.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Regular purchases and sales of financial assets are recognized on the trade date, meaning the date on which the Company commits to purchase or sell the asset. Financial instruments are derecognized when the rights to receive cash flow from the investments have expired or have been transferred, substantially, all of the risks and rewards of ownership.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="if0c24c54d7694536823d32f528b1a7df"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.6.1.1 Financial instruments measured at amortized cost</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments held by the Company: (i) in order to receive their contractual cash flow and not to sell to realize a profit or loss; and (ii) whose contractual terms give rise, on specified dates, to cash flow that exclusively represents payments of principal and interest on the principal amount outstanding. They are initially recognized at fair value and subsequently measured at amortized cost using the effective interest rate method, and adjusted for foreign exchange and monetary variations incurred, when applicable. Any changes are recognized under financial income (expenses) in the income statement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Annually, the Company assesses whether there is evidence that a financial asset is impaired. A financial is impaired only if there is evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset, and that loss event has an impact on the estimated future cash flow of the financial asset that can be estimated reliably.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The criteria the Company uses to determine whether there is evidence of an impairment loss includes:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Significant financial difficulty of the issuer or debtor;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Defaults on or late payment of interest or principal under the agreement;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Where the Company, for economic or legal reasons relating to the borrower's financial difficulty, grants to the borrower a concession that a lender would not otherwise consider;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">It becomes probable that the borrower will enter bankruptcy or other financial reorganization;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(v)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.29pt">The disappearance of an active market for that financial asset because of financial difficulties; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(vi)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">Observable data indicating a measurable decrease in the estimated future cash flow from a portfolio of financial assets after the initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the portfolio.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount of an impairment loss is measured at the difference between the carrying amount of the asset and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate. If the financial asset is impaired, the carrying amount of the asset is reduced and a loss is recognized in the income statement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If, in a subsequent remeasurement, if there is an improvement in the asset rating, such as an improvement in the debtor's credit rating, the reversal of the previously recognized impairment loss is recognized in the income statement. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Include cash on hand, bank deposits and highly liquid short-term investments with maturities, upon acquisition, of 90 days or less, which are readily convertible into known amounts of cash and subject to an insignificant risk of changes in value.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Trade accounts receivable</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These are recorded at their invoiced amounts, in the normal course of the Company´s business, adjusted for exchange rate variations where denominated in foreign currency and, if applicable, net of expected credit losses.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company applies an aging-based provision matrix with appropriate groupings for its portfolio. When necessary, based on individual analyses, the provision for expected losses is supplemented.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company examines the maturity of receivables on a monthly basis and identifies those customers with overdue balances, assessing the specific situation of each client, including the risk of loss, the existence of contracted insurance, letters of credit, collateral and the customer’s financial situation. In the event of default, collection attempts are made, which include direct contact with customers and collection efforts through third parties. Should these efforts prove unsuccessful, legal measures are considered, and expected credit losses are recognized. The notes are written off from the credit expected loss when Management considers that they are not recoverable after taking all appropriate measures to collect them.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Trade accounts payable and supplier finance arrangement</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Corresponds to the obligations payable for goods or services acquired in the normal course of the Company´s business.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Supplier finance arrangements are made available for suppliers to anticipate receivables related to the Company's routine purchases. In this transaction, financial institutions pay suppliers who opted for early receipt in exchange for a discount and, when agreed upon between financial institutions and suppliers (the decision to adhere to this transaction is exclusive to the suppliers), the Company pays the financial institutions the total nominal amount of the original obligation on the original payment date. Therefore, these transactions do not change the amounts, nature and timing of the liabilities (including terms, prices and conditions previously agreed upon) and do not affect the Company with the financial charges charged by financial institutions. Additionally, payments made by the Company are directly related to supplier invoices and do not change cash flows. Accordingly, the Company continues to recognize suppliers who opted for drawdown risk in operating activities in the statements of cash flows.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Loans, financing and debentures</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">General or specific borrowing costs, directly attributable to the acquisition, construction or production of a qualifying asset, are capitalized as a part of the cost of that asset when it is probable that they will provide future economic benefits for the entity, and that such cost can be measured with reliability. The Company does not have specific loans to obtain qualifying assets. Other loan costs are recognized as expenses in the period during which they are incurred.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i872d6d44a2234287ab797df7f7d780ae"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.6.1.2 Financial instruments at fair value through other comprehensive income</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments at fair value through other comprehensive income are financial assets held by the Company: (i) either to receive their contractual cash flow through sale with the realization of a profit or loss; and (ii) whose contractual terms give rise, on specified dates, to cash flows constituting, exclusively, repayments of principal and interest on the principal amount outstanding. In addition, this category includes investments in equity instruments where, upon initial recognition, the Company elected to present subsequent changes in its fair value within other comprehensive income. Any changes are recognized under net financial income (expenses) in the income statement, except for the fair value of investments in equity instruments, which are recognized in other comprehensive income.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Includes the balance presented in Note 14.1 as other investments evaluated at fair value through other comprehensive income.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For such financial assets, the Company periodically assesses whether there are significant or prolonged reductions in the fair value of the instrument below its cost, in order to identify potential impairment and the corresponding impairment loss, measured as the difference between the acquisition cost and the current fair value, less any loss previously recognized in other comprehensive income.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i70c7adc3eb824c42b610186d565567af"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.6.1.3 Financial instruments at fair value through profit or loss</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments at fair value through profit or loss are either designated in this category or not classified in any of the other categories. Any changes are recognized within financial income (expenses) in the income statement for non-derivative financial instruments and for financial derivative instruments within income from derivative financial instruments.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%"> Derivative financial instruments and hedging activities</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Hedging instruments are derivatives executed exclusively for the purpose of mitigating the Company’s financial risks.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Embedded derivatives in non-derivative main contracts are required to be separated when their risks and characteristics are not closely related to those of the respective main contracts, and these are not measured at fair value through profit or loss. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Non-option embedded derivatives are separated from the respective main contracts in accordance with the stated or implied substantive terms, so they have a zero fair value upon initial recognition.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i77c0a9f494354f39ba12de5e0aba4105"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.7 Inventories</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These are evaluated at the average acquisition or formation cost of the finished products, net of recoverable taxes, not exceeding their net realizable value.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Finished products and work-in-process consist of raw materials, direct labor, production costs, freight, storage and general production expenses, which are related to the processes required to make the products available for sale.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Imports in transit are presented at the cost incurred up to the balance sheet date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Raw materials derived from biological assets are measured based on their fair value, less costs to sell at the point of harvest and freight costs.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provisions for obsolescence, adjustments to net realizable value, impaired items and slow-moving inventories are recorded when necessary. Usual production losses are recorded and are an integral part of the production costs for the respective month, whereas unusual losses, if any, are recorded directly as part of cost of sales.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i02800e12929f48efbf7da195cf3ec77b"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.8 Biological assets</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The biological assets for production (mature and immature forests) are reforested eucalyptus forests, with a formation cycle between planting and harvest from 6 to 7 years, measured at fair value. Depletion is measured based on the amount of biological assets depleted (harvested) and measured at fair value at the time of harvest.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the determination of the fair value, the income approach technique was applied, using the discounted cash flow model, according to the projected productivity cycle for these assets. The assumptions used to measure the fair value are reviewed every six months, as the Company considers that this interval is sufficient to ensure no significant gaps in the fair value balance of biological assets booked. Significant assumptions are presented in Note 13.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The gain or loss on the assessment of fair value is recognized in operating income (expenses), net.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Biological assets in the process of formation under the age of 2 (two) years are recorded for at their formation cost. Areas of permanent environmental preservation are not recorded, because these are not characterized as biological assets, and are not included in the measurement at fair value.</span></div> P2Y <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i3fb32e3ab6914d34b903545ca5f36cdc"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.9 Property, plant and equipment</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Stated at their cost of acquisition, formation, construction or dismantling, net of recoverable taxes. This cost is deducted from the accumulated depreciation and accumulated impairment losses, when incurred, at the higher of the value in use or the proceeds from sale less cost to sell. The borrowing costs are capitalized as a component of construction in progress, at the weighted average rate of the Company’s debt at the capitalization date, adjusted for the equalization of exchange rate effects.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation is recognized based on the estimated economic useful life of each asset on a straight-line basis. The estimated useful lives, residual values and depreciation methods are reviewed annually, and the effects of any changes in estimates are accounted for prospectively. Land is not depreciated.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company performs an annual analysis of impairment indicators of property, plant and equipment. Impairment for losses on property, plant and equipment are only recognized if the related cash-generating unit is devalued, or if the asset’s recoverable amount is less than its carrying amount. The recoverable amount of the asset or cash-generating unit is the higher of its value in use, and its fair value less costs to sell.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The cost of major renovations is capitalized if the future economic benefits exceed the performance standards initially estimated for the asset and are then depreciated over the remaining useful life of the related asset.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Repairs and maintenance are expensed as incurred.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gains and losses on disposals of property, plant and equipment are measured by comparing the proceeds with the book value and are recognized as other operating income (expenses), net, at the disposal date.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i563d36dc2ffb4981aabc7e13351f503f"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.10 Leases</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A contract is, or contains, a lease if the right to control the use of an identified asset for a period of time is transferred in exchange for consideration, for which it is necessary to assess whether:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">The contract involves the use of an identifiable asset, which may be explicit or implicit, and may be physically distinct or represent almost the entire capacity of a physically distinct asset. If the supplier has a substantial right to replace the asset, then the asset is not identified; </span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">The Company has the right to obtain substantially all the economic benefits from the use of the asset during the contract period; and </span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">The Company has the right to direct the use of the asset, meaning the Company has the right to decide to change how and for what purpose the asset is used, if: </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">It has the right to operate the asset, or </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">It designed the asset, in a way that predetermines how and for what purpose it will be used. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">At the beginning of the contract, the Company recognizes a right-of-use asset and a lease liability that represents the obligation to make payments related to the asset underlying the lease. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The right-to-use asset is initially measured at cost, which includes the initial amount of the lease liability adjusted for any payments made up to the contract start date, plus any direct initial costs incurred, and estimated costs of disassembly, removal, or restoration of the asset in the place where it is located, less any incentives received.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The right-to-use asset is subsequently depreciated using the straight-line method from the start date to the end of the useful life of the right to use, or the end of the lease term, whichever is shorter. Except for land agreements that are automatically extended for the same period through a notification to the lessor, other agreements are not allowed automatic renewals for an indefinite period, since both parties have the right to terminate the agreements.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The lease liability is initially measured at the present value of the payments not made, less the incremental loan rate.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">In future payments resulting from a change in index or rate;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">In the estimate of the expected amount to be paid, at the guaranteed residual value; or</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">In the assessment of whether the Company will exercise the purchase option, extension or termination.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When the lease liability is remeasured, the corresponding adjustment amount is recorded in the book value of the right-of-use asset, or in the statement of profit and loss, if the book value of the right-of-use asset has been reduced to zero.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company does not have lease agreements with clauses imposing:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Variable payments that are based on the performance of the leased assets;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Guarantees of residual value; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Restrictions, such as, for example, an obligation to maintain financial ratios.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Short-term or low-value contracts which are exempt from these standards are contracts where the individual value of the assets is lower than USD5, and for which the maturity date is shorter than 12 months, are expensed as incurred.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i8be493ede85e49d18be08a3478549d11"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.11 Intangible assets</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These are measured at cost at the time when they are initially recognized. The cost of intangible assets acquired during a business combination corresponds to the fair value at the acquisition date. After initial recognition, intangible assets are presented at cost less accumulated amortization and impairment losses, when applicable.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The useful life of intangible assets are assessed as finite or indefinite.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangible assets with a finite life are amortized over the economically useful lives and reviewed for impairment whenever there is an indication that their carrying values may be impaired. The amortization period and method for intangible assets with finite useful lives are reviewed at least at the end of each fiscal year. The amortization of intangible assets with finite useful lives is recognized in the statement of income as an expense related to its use, and in line with the economically useful life of the intangible asset.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Amortization of supplier and port services contracts, port concessions, lease agreements, and cultivars is recognized in cost of sales. Amortization of customer relationships is recognized in selling and marketing expenses. Amortization of trademarks and patents, non-compete agreements, research and development agreements, and system development and implementation costs is recognized in general and administrative expenses. Amortization of software is recognized based on its functional use and may be included in cost of sales, selling or general and administrative expenses.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Intangible assets with indefinite useful lives are not amortized, but are tested annually for impairment losses, individually or at the CGU level. The allocation is made to the CGU or group of CGUs that represents the lowest level within the entity for which goodwill is monitored for management's internal purposes, that has benefited from the business combination. The Company mainly records in this subgroup goodwill for expected future profitability (goodwill) and easement of passage.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This testing involved the adoption of significant assumptions and judgments, disclosed in Note 16.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="ic6ece9c956524343aef03f24d9fb655d"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.12 Current and deferred income tax and social contribution and uncertainty over income tax treatments (IFRIC 23)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income taxes include income tax and social contribution on net income, current and deferred. These taxes are recognized in the income statement, except to the extent that they relate to items recognized directly in equity. In this case, they are recognized in equity under other reserves.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Subsidiaries domiciled in Brazil have their taxes calculated and provisioned in accordance with the current legislation and their specific tax regime, including, in some cases, the presumed profit method. Subsidiaries domiciled abroad are subject to taxation in their respective jurisdictions, according to local regulations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The current charge is calculated based on the tax laws enacted in the countries in which the Company and its subsidiaries and affiliates operate and generate taxable income. Management periodically evaluates the positions assumed in the income tax returns with respect to situations in which the applicable tax regulations give rise to interpretations and establishes provisions, when appropriate, based on the amounts that must be paid to the tax authorities.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax and contribution liabilities are recognized on temporary differences between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred taxes and contributions are determined based on the rates in force on the balance sheet date, and which must be applied when they are realized or settled.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax assets and contributions are recognized to the extent that it is probable that future taxable profits will be available for use to offset temporary differences, based on the projections of future results prepared and based on internal assumptions and future economic scenarios that may, therefore, undergo changes.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The projection for the realization of deferred tax assets was prepared based on Management's estimates that are based on significant judgments and assumptions relating to net average pulp and paper prices, and the transfer prices with the subsidiaries based in Austria. However, there are other assumptions that are not under the control of the Company, such as inflation rates, exchange rates, pulp prices in the international market, and other economic uncertainties in Brazil, which mean that future results may differ from those considered in the preparation of the consolidated projection.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred income tax and social contribution are recognized on temporary differences arising from investments in subsidiaries and associates, except when the timing of the reversal of temporary differences is controlled by the Company, and if it is probable that the temporary differences will not be reversed in the foreseeable future.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred tax and contribution assets and liabilities are offset and presented at their net amounts in the balance sheet whenever they are related to the same legal entity and the same tax authority. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The parcel of the adjustment of the value of the investment in subsidiaries, direct and indirect, domiciled abroad, equivalent to the profit earned by them before income tax, except for exchange rate variation, is added in the determination of taxable income and the social contribution calculation basis of the controlling entity domiciled in Brazil, at each year ended.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i55568776cc4b44a18d6a5a76ac17b77c"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.13 Provisions, contingent assets and liabilities</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Contingent assets are not recorded. Recognition is only performed when there are guarantees or favorable judicial decisions and the amounts of these can be measured reliably. Contingent assets for which such conditions are not met are only disclosed in the notes to the financial statements when their amounts are material.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Provisions for liabilities are made to the extent that the Company expects that is probable that it will disburse cash, and the amount can be reliably estimated. Tax, civil, environmental and labor proceedings are accrued when losses are assessed as probable, and the amounts involved can be measured reliably, being recorded net of judicial deposits, under “provisions for judicial liabilities”. When the expectation of loss is possible, a description of the processes and amounts involved is disclosed in the notes to the financial statements. Contingent liabilities assessed as representing remote losses are neither accrued nor disclosed.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Contingent liabilities arising from business combinations are recognized if they arise from a present obligation as a result of from past events, and if their fair values can be measured reliably, and are subsequently measured at the higher of:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">The amount that would be recognized in accordance with the accounting policy for the provisions above that comply with IAS 37; or</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">The amount initially recognized less, where appropriate, revenue recognized in accordance with the accounting treatment of revenue from customer contracts under IFRS 15.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Principal and penalties amounts related to Tax, civil, environmental and labor proceedings are under other operating income and expenses and the interest is recognized in the net financial result.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The realization of provisions for judicial liabilities and contingent liabilities arising from business combinations, with possible and remote probability of loss, are recognized under other operating income and expenses or cash depending on the court decision.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="icb6a603dc2074ba2bdc5b9877cb87d76"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.14 Share based payments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s executives and managers receive part of their compensation through share-based payment plans, settled in cash and shares.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Expenses related to these plans are recognized in the income statement as administrative expenses over the vesting period, based on the fair value determined at the grant date for equity-settled plans and remeasured at each reporting date for cash-settled plans. The changes in the fair value of cash-settled plans are recognized under administrative expenses in the statement of profit or loss. The corresponding entry is recognized in non-current liabilities for cash-settled plans and in shareholders’ equity for equity-settled plans.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i4bca7e80fdfd4757a7445a2d112c2022"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.15 Employee benefits</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company offers benefits through a supplementary contribution plan to all employees, as well as medical assistance and life insurance for a determined group of former employees, and for the latter two benefits an annual actuarial appraisal is prepared by an independent actuary, and are reviewed by Management. The respective impact is recognized in employee benefit plans.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Actuarial gains and losses are recognized in other reserves when incurred. The interest incurred, resulting from changes in the present value of the actuarial liability, is recorded in the income statement within financial expenses.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i47f6d82ea1d446d6ae98a82584986113"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.16 Government grants and assistance</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Government grants and assistance are recognized at fair value when it is reasonably certain that the conditions established by the granting Governmental Authority were observed, and that these subsidies will be obtained. These are recorded as deductions expenses in the income statement for the period of enjoyment of the benefit, and subsequently allocated to the tax incentives reserve under shareholders’ equity, when applicable.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="ifc5b7537b6df467dbaaf7cb4f8e0d0fb"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.17 Revenue recognition</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue from contracts with customers is recognized at the time when control of the products is transferred to customers, represented by the ability to determine the use of products and obtain substantially all the remaining benefits from the products.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the Pulp operating segment, revenue recognition occurs when control is transferred to the buyer who assumes the remaining benefits of the asset and is based on the parameters provided by: (i) International Commercial Terms (“Incoterms”), when destined for the foreign market; and (ii) lead times, when destined for the internal market.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the Paper and Consumer Goods operating segments, revenue is also recognized upon the transfer of control to the customer, based on (i) the applicable Incoterms and (ii) the lead time, for transactions carried out in both foreign and domestic markets.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenue is measured at the fair value of the consideration received or receivable, net of taxes, returns, rebates and discounts, and recognized in accordance with the accrual basis of accounting, when the amount can be reliably measured.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accumulated experience is used to estimate and provide for rebates and discounts, using the expected value method, and revenue is only recognized to the extent that it is highly unlikely that a significant reversal will occur. A provision for reimbursement (included in trade accounts receivable) is recognized for expected rebates and discounts payable to customers in relation to sales made until the end of the reporting period. No significant element of financing is deemed to be present, as sales are made with short credit terms.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i00eb950b2a3848af89434e9445561881"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.18 Employee and management profit sharing</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Employees are entitled to profit sharing based on certain goals agreed annually. For the Administrators, the basis is the legal and statutory provisions proposed by the Board of Directors and approved by the shareholders are used as a basis. Provisions for participation are recognized in the payroll and charges against to administrative expenses during the period in which the targets are attained.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i5ae52160b743467394571795a20b1487"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.2.19 Material accounting judgments, estimates and assumptions</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As disclosed in Note 2, Management applied judgments, estimates, and accounting assumptions to reflect future conditions and expectations. Such assumptions, based on available information and relevant economic factors, may involve uncertainties that could result in significant changes in the carrying amounts of assets, liabilities, income, and expenses in subsequent periods. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company reviews the estimates and underlying assumptions used in its accounting estimates on an annual basis. Revisions to the accounting estimates are recognized in the period during which the estimates are revised. The main matters subject to these estimates are presented below:</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fair value of financial instruments (Note 4):</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The measurement of the fair value of financial instruments requires significant management judgment, especially for transactions contracted in over-the-counter markets or with low liquidity. These calculations involve assumptions regarding future interest rates, foreign exchange coupon curves, volatility, commodity prices, and counterparties’ credit risk, using models such as discounted cash flow and Garman-Kohlhagen for options. The estimates consider normal market conditions at the reporting date, without forced liquidation, and rely on observable inputs (rates, curves, volatilities) and unobservable inputs (spreads and risk adjustments), in accordance with IFRS 13 fair value hierarchy. Changes in these assumptions, such as variations in interest rate curves, exchange rates, or input prices, may significantly impact the fair values recognized, affecting assets, liabilities, and the results for the period.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main risks arise from the volatility of financial markets and the sensitivity of the assumptions used in fair value measurement. Abrupt changes in exchange rates, interest rates, or commodity prices may result in significant adjustments to derivative and non-derivative financial instruments, influencing profit or loss and equity. In addition, external factors such as economic crises, regulatory changes, or reduced liquidity may affect the reliability of the estimates, increasing the subjectivity of the calculations. As these instruments are predominantly classified within Level 2 of the fair value hierarchy, there is greater reliance on internal models and unobservable inputs, which increases the degree of uncertainty. Suzano mitigates these risks through robust financial policies, daily monitoring of positions, sensitivity analyses, and periodic reviews of the assumptions used.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Annual analyses of the recoverability of taxes (Notes 9 and 12):</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The annual assessment of the recoverability of taxes is essential to ensure that deferred tax assets and tax credits recognized by Suzano appropriately reflect the expectation of future realization. These assets depend on projections of taxable results, offsetting plans, and interpretations of tax legislation, requiring significant management judgment. The determination of recoverability involves assumptions regarding economic growth, future profitability, the utilization of tax losses and negative bases of corporate income tax and social contribution, as well as the assessment of risks related to uncertain tax positions in accordance with ICPC 22/IFRIC 23.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As these estimates are sensitive to changes in the economic and regulatory environment, their proper measurement is critical to the transparency and reliability of the financial statements.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main risks arise from uncertainty regarding the generation of sufficient taxable profits to realize tax credits, as well as the possibility of changes in legislation or tax interpretations that may affect the utilization of these assets. Changes in profit projections, revisions to strategic plans, or unfavorable decisions in tax disputes may lead to the need for significant adjustments to the recorded balances. In addition, because this assessment involves judgments about future scenarios and complex tax positions, there is a risk of volatility in profit or loss and equity if the assumptions do not materialize. Suzano mitigates these risks through periodic reviews, support from legal opinions, and continuous monitoring of tax contingencies.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Fair value of biological assets (Note 13):</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The measurement of the fair value of biological assets is essential to appropriately reflect, in Suzano’s financial statements, the economic value of the eucalyptus forests used as raw material in pulp production. This process involves significant assumptions, such as mean annual increment (IMA), wood prices, establishment costs, land opportunity cost, discount rate (WACC), and inflation, all based on long-term projections and region-specific conditions. As these variables are sensitive to changes in market conditions, climate, and productivity, the judgments and estimates applied by Management have a direct impact on the carrying amount of the assets and, consequently, on the Company’s results.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main risks arise from the inherent uncertainty in the assumptions used to calculate fair value. Variations in wood prices, forest growth rates (IMA), establishment costs, or the discount rate may result in significant adjustments to biological assets and affect operating results. In addition, external factors such as regulatory changes, climatic events, pests, or fires may impact productivity and projected cash flows, increasing fair value volatility. As this measurement is classified as Level 3 in the IFRS 13 fair value hierarchy and is based on unobservable inputs, there is a higher degree of subjectivity and a need for robust controls to ensure the reliability of the information.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Annual analysis recoverable amount of goodwill (Note 16):</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill is tested for recoverability annually or whenever there are indications of impairment. For testing purposes, assets are allocated to the Cash-Generating Units (CGUs) to which the goodwill is associated. The recoverable amount is determined based on value in use, calculated from discounted cash flows, considering financial projections approved by Management for a five-year horizon, plus a long-term growth rate for subsequent periods.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Key assumptions include the discount rate (WACC), which reflects the weighted average cost of capital adjusted for business risk and market conditions; the perpetuity growth rate, based on sustainable growth expectations for the sector; operating margins, estimated according to historical performance and market outlook; and revenue projections, based on macroeconomic assumptions, competitive dynamics, and strategic plans.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These assumptions involve significant judgment and are subject to uncertainties, particularly regarding the discount rate, where variations can substantially impact the recoverable amount; the growth rate, where changes can reduce the test’s safety margin; and operational performance, which may be affected by changes in the economic or competitive environment, impacting revenue and margin projections. If these assumptions do not materialize, an impairment loss may need to be recognized in future periods.</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Provision for judicial liabilities (Note 20):</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is a party to judicial and administrative proceedings of a tax, civil, environmental and labor nature. A provision for legal contingencies is recognized when there is a present obligation arising from past events and when Management, based on the opinion of legal counsel, considers an outflow of resources to settle the obligation to be probable and the amount involved can be reliably estimated.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amount provided is calculated taking into account the probability of loss, classified as probable, possible or remote according to legal assessment; the estimated cash outflow, based on the history of decisions, applicable case law and the procedural stage of the cases; and monetary restatement and charges, applied in accordance with applicable legislation.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Significant assumptions include legal interpretation, as changes in case law or decisions by higher courts may significantly affect the probability of loss; the estimation of amounts, which may vary as a result of new calculations, expert reports or updates to legal bases; and the regulatory environment, since legislative changes may impact the obligation or the estimated amount.</span></div>The provisions involve significant judgments and are subject to uncertainties, especially in long-term proceedings or cases involving complex matters. Should there be changes in assumptions or in legal interpretation, additional provisions may be recognized or reversals may occur in future periods. <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i4fac3b6e54494d76b1a340b4f0d3a47e"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.3 Accounting policies not yet adopted</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The new and changed standards and interpretations issued, but not yet adopted up to December 31, 2025, are described below. The Company intends to adopt these new standards, changes and interpretations, if applicable, when they come into force, and does not expect them to have a material impact on the financial statements except for the IFRS 18 as disclosed below.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i087aeb7dd3b84964bd742308497b1553"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.3.1 Amendment to IFRS 9 and IFRS 7 - Classification and Measurement of Financial Instruments (applicable for annual on/or after January 1, 2026)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On 30 May 2024, the IASB issued targeted amendments to IFRS 9 and IFRS 7 to respond to recent questions arising in practice, and to include new requirements not only for financial institutions but also for corporate entities. These amendments:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">clarify the date of recognition and derecognition of some financial assets and liabilities,with a new exception for some financial liabilities settled through an electronic cash transfer system;</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion;</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">add new disclosures for certain instruments with contractual terms that can change cash flows (such as some financial instruments with features linked to the achievement of environment, social and governance targets); and</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI).</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ic60449ecf8d74f1399595b1f54afb308"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.3.2 IFRS 18 Presentation and Disclosure in Financial Statements (applicable for annual on/or after January 1, 2027)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In April 2024, the IASB issued IFRS 18 – Presentation and Disclosure in Financial Statements, which will replace IAS 1 – Presentation of Financial Statements, introducing new requirements with the aim of increasing the comparability of financial performance between entities and providing more relevant and transparent information to users of financial statements.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although IFRS 18 does not change the recognition or measurement of items, significant impacts are expected on the presentation and disclosure of financial statements, especially with regard to the structure of the income statement, the disclosure of performance measures defined by management, the principles of aggregation and disaggregation of information, and certain aspects of the cash flow statement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is currently assessing the impacts of adopting IFRS 18 on its consolidated financial statements. Based on a preliminary assessment, the following possible effects stand out, among others: changes in the presentation of results, resulting from the new classification of revenues and expenses into standardized categories and the introduction of new subtotals; possible adjustments in the presentation of the main financial statements, with the regrouping or greater detail of certain lines, in accordance with the new principles of aggregation and disaggregation; new disclosure requirements related to performance measures defined by Management; and adjustments in the presentation of the cash flow statement, in accordance with the new requirements of the standard.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">IFRS 18 is effective for fiscal years beginning on or after January 1, 2027, with retrospective application, so that comparative information for the fiscal year ended December 31, 2026, will be restated upon initial adoption of the standard.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i2924b7673b1c4ad486396acadc734bfa"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.3.3 IFRS 19 Subsidiaries without Public Accountability: Disclosures (applicable for annual on/or after January 1, 2027)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Issued in May 2024, IFRS 19 allows for certain eligible subsidiaries of parent entities that report under IFRS Accounting Standards to apply reduced disclosure requirements.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i333253ab1dc049a6b35302221d6ceef9"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.3.4 Amendment to IAS 21 - Effects of Changes in Foreign Exchange Rates (applicable for annual on/or after January 1, 2027)</span></div><div style="margin-bottom:10pt;text-align:justify;text-indent:-4.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On 13 November 2025, the IASB issued targeted amendments to IAS 21 specifying the procedures to be applied for translating amounts from a functional currency of a non‑hyperinflationary economy into a presentation currency of a hyperinflationary economy.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="if09fcdc41d7548d69129af5527e28903"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">3.3.5 Annual Improvements to IFRS Accounting Standards – Volume 11</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These amendments are intended to enhance clarity in the wording of certain standards (IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7) and to remedy omissions, inconsistencies or unintended effects resulting from the application of such standards.</span></div> <div style="margin-bottom:11pt;text-align:center"><span id="i3daf4c0f53884550bdc0813b980c4a85"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4 FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i5773f887c294497db7e75d82160f992f"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.1 Financial risks management</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="icb76f27813204869b782d39a023b11d9"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.1.1 Overview</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As a result of its activities, the Company is exposed to various financial risks, which are managed in accordance with the Financial Risk Management, Counterparty and Issuer Risk, Debt, Derivative and Cash Management Policies (“Financial Policies”) approved at the Board of Directors' meeting.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main factors considered by Management are:</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Liquidity;</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Credit;</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Exchange rate;</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">Interest rate;</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(v)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.29pt">Fluctuations of pulp selling and commodity prices; and</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(vi)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">Capital.</span></div><div><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management are focused on generating consistent and sustainable results over time, however, arising from external risk factors, unintended levels of volatility can influence the Company’s cash flow and income statement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has policies and procedures for managing market risk which aims to:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Reduce, mitigate or transfer exposure with the aim of protecting the Company’s cash flow and assets against fluctuations in the market prices of raw material and products, exchange rates and interest rates, price and adjustment indices ("market risk") or other assets or instruments traded in liquid or illiquid markets to which the value of the assets, liabilities and cash flow are exposed;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Establish limits and instruments with the purpose of allocating the Company's cash to financial institutions falling within acceptable credit risk exposure parameters; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Optimize the process of contracting financial instruments for protection against exposure to risk, drawing on natural hedges and correlations between the prices of different assets and markets, avoiding any waste of funds for inefficient transactions. All financial transactions entered into by the Company aim to protect existing exposures, with the assumption of new risks being prohibited, except those arising from its operating activities.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Hedging instruments are contracted exclusively for hedging purposes and are based on the following terms:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Protection of cash flow against currency mismatches;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Protection of revenue flows for debt settlement and interest payments against fluctuations in interest rates and currencies; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Protection against fluctuations in the prices of pulp and other supplies related to production.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Treasury team is responsible for identification, evaluating and seeking protection against possible financial risks. The Board of Directors approves financial policies that establish the principles and guidance for global risk management, the areas involved in these activities, the use of derivative and non-derivative financial instruments, and the allocation of a cash surplus.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company only uses the most liquid financial instruments, and:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Does not enter into leveraged transactions or other forms of embedded options that change the purpose of protection (hedge); </span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Does not have double-indexed debt or other forms of implied options; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Does not have any transactions requiring margin deposits or other forms of collateral for counterparty credit risk.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company does not use hedge accounting. Therefore, gains and losses from derivative operations are fully recognized in the statements of income, as disclosed in Note 26.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i726cd53783be44bbaa7a57b202671fd4"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.1.2 Classification</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All transactions with financial instruments are recognized for accounting purposes and classified in the following categories:</span></div><div style="margin-bottom:10pt;padding-left:31.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:59.445%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Note</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amortized cost </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,179,753</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,018,818</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Trade accounts receivable</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,560,607</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,132,860</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other assets </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">595,069</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">628,275</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,335,429</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,779,953</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value through other comprehensive income</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Investments</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14.1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">901,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,138,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">901,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,138,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value through profit or loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4.5.1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,571,661</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,887,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Marketable securities</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,252,454</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,363,511</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19,824,115</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,250,611</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">43,060,725</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">37,168,630</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amortized cost</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Trade accounts payable</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,141,386</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,033,285</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Loans, financing and debentures</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18.1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">94,801,257</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101,435,531</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Lease liabilities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19.2</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,929,890</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,972,915</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities for assets acquisitions and subsidiaries</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">23</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">94,840</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">120,490</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Dividends and interests on own capital payable</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,393,121</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,200,917</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other liabilities </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">141,884</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">143,330</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">108,502,378</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">116,906,468</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value through profit or loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4.5.1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:22.15pt;padding-right:0.85pt;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:22.15pt;padding-right:0.85pt;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">117,843,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">127,361,288</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:22.15pt;padding-right:0.85pt;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">74,783,002</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">90,192,658</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:10.29pt">Does not include items not classified as financial instruments.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i249d94b0ee724de491b04fda1a736714"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.1.3 Fair value of loans and financing</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The financial instruments are recognized at their contractual amounts. In order to determine the market values of financial instruments traded in public and liquid markets, the market closing prices were used at the balance sheet dates. The fair values of interest rate and index swaps are calculated based on the present value of their future cash flow, discounted at the current interest rates available for transactions with similar remaining terms to maturity. This calculation is based on the quotations of B3 and ANBIMA for interest rate transactions in Brazilian Reais, and the Federal Reserve Bank of New York and Bloomberg for Secured Overnight Financing Rate (“SOFR”) transactions. The fair value of forward or forward exchange agreements is determined using the forward exchange rates prevailing at the balance sheet dates, in accordance with B3 prices.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In order to determine the fair values of financial instruments traded in over-the-counter or unliquidated markets, a number of assumptions and methods based on normal market conditions and not for liquidation or forced sale, are used at each balance sheet date, including the use of option pricing models such as Garman-Kohlhagen, and estimates of discounted future cash flow. The fair value of agreements for the fixing of oil bunker prices is obtained based on the Platts index.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated fair values of loans and financing are set forth below:</span></div><div style="margin-bottom:10pt;padding-left:27pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Yield used to discount/methodology</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Quoted in the secondary market</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In foreign currency</span></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-align:center;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Bonds</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Secondary Market</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">36,655,663</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">48,734,909</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Estimated present value</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In foreign currency</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Export credits (“Prepayment”)</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,404,795</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,740,891</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Assets Financing</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">277,172</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">422,115</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ECA - Export Credit Agency</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,979,202</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">864,202</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">IFC - International Finance Corporation</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,442,675</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,261,715</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Panda Bonds - CNY</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fixed</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,964,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">951,125</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In local currency</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BNDES – TJLP</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">95,167</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">171,109</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BNDES – TLP</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,193,766</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,275,012</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BNDES – TR</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">90,356</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">33,466</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BNDES – Selic (“Special Settlement and Custody System”)</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">547,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">645,139</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BNDES – UMBNDES</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 2</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">253,500</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">106,966</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Assets Financing</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">49,911</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">60,566</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Debentures</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1/IPCA</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,873,596</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,002,992</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NCE (“Export Credit Notes”) </span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">105,865</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">108,308</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NCR (“Rural Credit Notes”)</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,520,478</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,424,457</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CPR ("Rural Product Note")</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,472,697</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ECO INVEST – Agroindustrial Credit</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">334,422</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">88,260,594</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">98,802,972</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The book values of loans and financing are disclosed in Note 18.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Management considers that, for its other financial assets and liabilities measured at amortized cost, their book values approximate their fair values, and therefore the fair value information is not being presented.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i81b04b0b3fc94aeea30a3d02b19a9611"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.2 Liquidity risk management</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s purpose is to maintain a strong cash and marketable securities position to meet its financial and operating commitments. The amount held in cash is intended to cover the expected outflows in the normal course of its operations, while the cash surplus is generally invested in highly liquid financial investments according to the Cash Management Policy.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The cash position is monitored by the Company’s Management, by means of management reports and participation in performance meetings with determined frequencies. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the year ended December 31, 2025, the variations in cash and marketable securities were as expected, and the cash generated from operations was mostly used for investments and debt service.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All derivative financial instruments were traded over the counter and do not require deposit guarantee margins.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The remaining contractual maturities of financial liabilities are presented as of the balance sheet date. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amounts as set forth below consist of undiscounted cash flow, and include interest payments and exchange rate variations, and therefore may not reconcile with the amounts disclosed in the balance sheet.</span></div><div style="margin-bottom:10pt;padding-left:13.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:30.176%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.808%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.660%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.246%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Book value</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Undiscounted cash flow</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Up to 1 year</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1 - 2 years</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2 - 5 years</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">More than 5 years</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Trade accounts payables</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,141,386</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,141,386</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,141,386</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Loans, financing and debentures </span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">94,801,257</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">136,586,565</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,690,098</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,894,643</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">46,428,491</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">67,573,333</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Lease liabilities</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,929,890</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,281,230</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,761,632</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,235,951</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,161,325</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,122,322</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liabilities for asset acquisitions and subsidiaries</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">94,840</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">115,108</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19,904</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">18,993</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">76,211</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Derivative financial instruments </span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,741,567</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,139,273</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">849,920</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,815,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,936,669</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Dividends and interests on own capital payable</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,393,121</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,393,121</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,393,121</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other liabilities</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">141,884</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">141,884</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">49,554</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">92,330</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">117,843,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">170,400,861</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,194,968</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19,091,837</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">53,481,732</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">81,632,324</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:13.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:30.176%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.808%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.660%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.246%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Book <br/>value</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Undiscounted cash flow</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Up to 1 year</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1 - 2 years</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2 - 5 years</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">More than 5 years</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Trade accounts payables</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,033,285</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,033,285</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,033,285</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Loans, financing and debentures </span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">101,435,531</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">142,028,543</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,599,011</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">14,235,170</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50,858,667</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">63,335,695</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Lease liabilities</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,972,915</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,099,294</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,302,590</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,176,832</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,094,493</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,525,379</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liabilities for asset acquisitions and subsidiaries</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">120,490</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">146,082</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">23,425</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">22,400</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">100,257</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Derivative financial instruments </span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,878,150</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,676,180</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">957,540</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,489,357</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,755,073</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Dividends and interests on own capital payable</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,200,917</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,200,917</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,200,917</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other liabilities</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">143,330</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">143,330</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">60,892</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">82,438</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">127,361,288</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">176,529,601</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">24,896,300</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,474,380</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">55,542,774</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">79,616,147</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i5a3d322117ed40e98b2c8f95aa3e37f0"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.3 Credit risk management</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Related to the possibility of non-compliance with the counterparties’ commitments as part of a transaction. Credit risk is managed on a group basis and arises from cash equivalents, marketable securities, derivative financial instruments, bank deposits, Bank Deposit Certificates ("CDB"), fixed income box, repurchase agreements, letters of credit, insurance, receivable terms of customers, and advances to suppliers for new projects, among others.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i0f517a8dc1a14b4ba314e37c9660cd3a"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.3.1 Trade accounts receivable</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has commercial and credit policies aimed at mitigating any risks arising from defaults by its customers, mainly through contracting credit insurance policies, bank guarantees provided by first-tier banks, and collateral based on liquidity. Moreover, portfolio customers are subject to internal credit analysis aimed at assessing the risks regarding payment performance, both for exports and for domestic sales.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For customer credit assessment, the Company applies a matrix based on the analysis of qualitative and quantitative aspects to determine the individual credit limits to each customer according to the identified risks. Each analysis is submitted for approval according to an established hierarchy and, if applicable, for approval at a Management meeting and by the Credit Committee.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The risk classification of trade accounts receivable is set forth below:</span></div><div style="margin-bottom:10pt;padding-left:27pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:74.796%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.381%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Consolidated</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Low - current and overdue up to 30 days</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,270,686</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,899,516</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average - overdue between 30 and 90 days</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">154,155</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">174,048</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">High - </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline"> </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">overdue more than 90 days</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">267,314</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">89,596</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,692,155</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,163,160</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A portion of the amounts above does not consider the expected credit losses calculated based on the provision matrix of R$131,548 and R$30,300 as of December 31, 2025 and 2024, respectively.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iaa1b1038d0ca41fca5c241819423f849"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.3.2 Banks and financial institutions</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company, in order to mitigate its credit risk, ensures its financial operations are diversified among banks, with a main focus on first-tier financial institutions classified as high-grade with the majority of its balance having a brAAA risk rating — that is, those with a high level of credit quality and low risk according to the main credit rating agencies.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The book value of financial assets representing exposure to credit risk is set forth below:</span></div><div style="margin-bottom:10pt;padding-left:13.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:76.231%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.660%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.663%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Consolidated</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,179,753</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,018,818</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Marketable securities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,252,454</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,363,511</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,571,661</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,887,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">35,003,868</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,269,429</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1) Does not include the derivative embedded in a forest partnership agreement for the supply of standing wood, which is not a transaction with a financial institution.</span></div><div><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The counterparties, mainly financial institutions, with whom the transactions are performed classified under cash and cash equivalents, marketable securities and derivatives financial instruments, are rated by the main ratings agencies. The risk ratings are set forth below:</span></div><div style="margin-bottom:10pt;padding-left:13.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:50.693%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.384%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash and cash equivalents and marketable securities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Risk rating </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">AAA</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">232,908</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">AA-</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">476,535</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">286,906</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">A+</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,055</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">94,638</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">148,029</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">A</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,146</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">A-</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">37,081</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brAAA</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,984,803</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20,830,651</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,870,122</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,747,948</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brAA+</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">576</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">658,880</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brAA</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">473</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">755</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brAA-</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">252,945</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,246</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brA</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">117,736</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">31,504</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brBBB-</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brBB</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">710</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brBB-</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">750,359</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">156,450</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Others</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">29,521</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">109,448</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">114,974</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">314,859</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25,432,207</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,382,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,571,661</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,887,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1) We use the Brazilian Risk Ratings issued by the agencies Fitch Ratings, Standard &amp; Poor’s and Moody’s.</span></div><div><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i39dcd7016bfb4288905507851ff5869e"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.4 Market risk management</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to several market risks, mainly related to fluctuations in exchange rate variations, interest rates, inflation rates, pulp selling prices and commodity prices that could affect its results and financial situation.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To mitigate the impacts, the Company has processes to monitor its exposure and policies that could support the implementation of risk management.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These policies establish the limits and the instruments to be implemented for the purpose of:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Protecting cash flow due to currency mismatch;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Mitigating exposure to interest rates;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Reducing the impacts of fluctuations in commodity’s prices; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt"> Changes to debt indexes.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Market risk management involves the identification, assessment and implementation of the strategy, with the effective contracting of adequate financial instruments.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i5740e7a0b85d427bb990d587d5ca3053"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.4.1 Exchange rate risk management</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fundraising, financing and currency hedging policies of the Company are guided by the fact that a substantial part of the net revenue arises from exports with prices negotiated in US Dollars, while a substantial part of the production costs are in Brazilian Reais. This structure allows the Company to enter into export financing arrangements in US Dollars, and to reconcile the financing payments with the cash flow of receivables from sales in foreign markets, using the international bond market as an important portion of its capital structure, and providing a natural cash hedge for these commitments.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Moreover, the Company enters into USD selling transactions in the futures markets, including strategies involving options, to ensure attractive levels of operating margins for a portion of revenue. Such transactions are limited to a percentage of the net surplus foreign currency over a 24-months’ time horizon and therefore, are matched to the availability of currency for sale in the short term.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The assets and liabilities that are exposed to foreign currency, substantially in USD, are set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,919,897</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,496,039</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Marketable securities</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">427,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">70,255</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Trade accounts receivable</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,705,509</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,090,160</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,404,458</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,887,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,457,193</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,543,554</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities </span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Trade accounts payable</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,075,590)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,350,763)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Loans and financing</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(70,357,356)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(83,004,915)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities for asset acquisitions and subsidiaries</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(66,446)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(93,308)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,614,888)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(10,448,379)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(76,114,280)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(94,897,365)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(53,657,087)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(77,353,811)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="id5112df192d9400f9c7b56178178c60a"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.4.1.1 Sensitivity analysis – foreign exchange rate exposure – except for derivative financial instruments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For market risk analysis, the Company uses scenarios to evaluate both its asset and liability positions in foreign currency, and the possible effects on its results. The probable scenario represents the amounts recognized, as they reflect the conversion into Brazilian Reais on the balance sheet date (R$ to USD = R$ 5.5024). </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This analysis assumes that all other variables, particularly interest rates, remain constant. The other analyses considered unfavorable scenarios of the Brazilian Real against the USD at the rates of 25% and 50% before taxes.</span></div><div style="margin-bottom:10pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table set forth the potential impacts at their absolute amounts:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Effect on profit or loss</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Probable (base value)</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Possible (25%)</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Remote (50%)</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,919,897</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,979,974)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,959,949)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Marketable securities</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">427,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(106,832)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(213,665)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Trade accounts receivable</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,705,509</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,176,377)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,352,755)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Trade accounts payable</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,075,590)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(268,898)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(537,795)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(70,357,356)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(17,589,339)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(35,178,678)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Liabilities for asset acquisitions and subsidiaries</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(66,446)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(16,612)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(33,223)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i947dea313813463a935151c2dd6e452d"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.4.1.2 Sensitivity analysis – foreign exchange rate exposure – derivative financial instruments </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has sales operations in USD in the futures markets, including strategies using options, to ensure attractive levels of operating margins for a portion of its revenue. These operations are limited to a percentage of the total exposure to USD over a 24-month horizon, and are therefore pegged to the availability of ready-to-sell foreign exchange in the short term.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to the transaction described above, the Company also taken out derivative instruments linked to the USD and subject to exchange fluctuations, seeking to adjust the debt's currency indexation to the cash generation currency, as provided for in its financial policies.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the calculation of the mark-to-market (“MtM”) price, the exchange rate of the last business day of the period is used. These market movements caused a negative impact on the mark-to-market position entered into by the Company.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This analysis below assumes that all other variables, particularly the interest rates, remain constant. The other analyses considered unfavorable scenarios of the Brazilian Real against the USD by 25% and 50%, before taxes, based on the base scenario on December 31, 2025.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table set out the possible impacts assuming these scenarios:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Effect on profit or loss</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Probable (base value)</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Possible 25%</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Remote 50%</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Dollar/Real</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments </span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative options</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">979,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,707,051)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(13,025,130)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative swaps</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(851,428)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,164,776)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,396,550)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative Non-Deliverable Forward (‘NDF’) Contracts</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,355</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(121,626)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(243,252)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Embedded derivatives</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">112,058</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(177,738)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(355,477)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Commodity Derivatives</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(34,379)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(9,503)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(18,280)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iabd9d7ca55f940f083e87b0fcee8394b"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.4.2 Interest rate risk management</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fluctuations in interest rates could increase or reduce the costs of new loans and existing contracted operations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is constantly looking for alternatives for the use of financial instruments in order to avoid negative impacts on its cash flow due to fluctuations in interest rates in Brazil or abroad.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ide9aa6856f7c4e21b40be60045d73ffd"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.4.2.1 Sensitivity analysis – exposure to interest rates – except for derivative financial instruments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For its market risk analysis, the Company uses scenarios to evaluate the sensitivity of changes in operations impacted by the following rates: Interbank Deposit Rate (“CDI”), Long Term Interest Rate (“TJLP”), Long Term Rate ("TLP"), Special System for Settlement and Custody (“SELIC”) and SOFR, which could impact the results. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The probable scenario represents the amounts already booked, as they reflect Management’s best estimates.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This analysis assumes that all other variables, particularly exchange rates, will remain constant. The other scenarios considered a depreciation of 25% and 50% in market interest rates. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table set forth the possible impacts assuming these scenarios in absolute amounts:</span></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Effect on profit or loss</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Probable</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Possible (25%)</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Remote (50%)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">CDI/SELIC</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,204,403</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(119,364)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(238,728)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Marketable securities</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,917,258</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(294,918)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(589,836)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Loans and financing</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,825,045</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(328,733)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(657,466)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">TJLP</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Loans and financing</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101,302</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,297)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,594)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">SOFR</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Loans and financing</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25,195,489</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(243,766)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(487,533)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i95f5dc6527f84f8eaeb4803618fd4d7c"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.4.2.2 Sensitivity analysis – exposure to interest rates – derivative financial instruments </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These analyses considered unfavorable market interest rate scenarios with variations of 25% and 50%. This analysis assumes that all other variables remain constant.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table sets out the possible impacts of these assumed scenarios:</span></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Effect on profit or loss</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Probable</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Probable 25%</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Remote 50%</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">CDI</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivative options</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">979,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(654,459)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,256,399)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivative swaps</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(851,428)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(646,114)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,188,904)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">SOFR</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivative swaps</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(851,428)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(130,162)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(253,566)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iffe2540a9a104a658cfeba4cf068e7d8"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.4.2.3 Sensitivity analysis to changes in the consumer price indices of the US economy </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the measurement of the probable scenario, the United States Consumer Price Index (“US-CPI”) was considered on December 31, 2025. The probable scenario was extrapolated considering an unfavorable variation of 25% and 50% in the US-CPI to define the possible and remote scenarios, respectively.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table sets out the possible impacts, assuming these scenarios in absolute amounts:</span></div><div style="margin-bottom:10pt;padding-left:27pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="15" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Effect on profit or loss</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Probable (base value)</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Possible (25%)</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Remote (50%)</span></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Embedded derivative in a commitment to purchase standing wood, originating from a forest partnership agreement</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">112,058</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(27,632)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(58,468)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i2cf7429fb21a4e698af845190fc205fd"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.4.3 Pulp and commodity price risk management</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to the selling price of pulp and commodity prices in the international market. The dynamics of rising and falling production capacities in the global market, demand and macroeconomic conditions may impact the Company´s operating results.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Through a specialized team, the Company monitors hardwood pulp prices and analyses future trends, adjusting the forecasts aimed at assisting with preventive measures to calculate the different scenarios. There is no sufficiently liquid financial market to mitigate the risk of a material portion of the Company’s operations. Hardwood pulp price protection instruments available on the market have low liquidity and low volume, and high levels of distortion in price formation. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is also exposed to international oil prices, reflected in logistical costs for selling in the export market, and indirectly in the costs of other supply, logistics and service contracts. In such cases, the Company evaluates whether to contract derivative financial instruments to mitigate the risk of price variations in its results.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i2aeadb0dddbd4d73bea56498108a3dcd"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.5 Derivative financial instruments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company determines the fair value of derivative contracts, which differ from the amounts realized in the event of early settlement due to bank spreads and market factors at the time of quotation. The amounts presented by the Company are based on an estimate using market factors and use data provided by third parties, measured internally and compared to calculations performed by external consultants and by counterparties.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fair value does not represent an obligation to make an immediate disbursement or receipt of cash, given that such an effect will only occur on the dates of contractual fulfillment or upon the maturity of each transaction, when the result will be determined, depending on the case and on the market conditions on the agreed dates. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">A summary of the methodologies used for the purpose of determining the fair value by type of instrument is presented below:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Swaps: the future value of the asset and liability is estimated based on the cash flows projected using the market interest rate of the currency in which the tip of the swap is denominated. The present value of the US Dollar-denominated tip is measured using the discount based on the exchange coupon curve (the remuneration, in US Dollars, of the Reais invested in Brazil) and in the case of the R$-denominated tip, the discount is made using Brazil's interest curve, being the future curve of the DI, considering the credit risk of both the Company and the counterparty. The exception is pre-fixed contracts x USD, for which the present value of the tip denominated in USD is measured through a discount using the SOFR curve disclosed by Bloomberg. The fair value of the contract is the difference between these two points. Interest rate curves were obtained from B3.</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Options (Zero Cost Collar): the fair value was calculated based on the Garman Kohlhagen model, considering both the Company’s and the counterparty credit risk. Volatility information and interest rates are observable and obtained from the B3 exchange and are used to calculate the fair values.</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Non-deliverable forward (“NDF”) contracts: a projection of the future currency quote is made, using the exchange coupon curves and the future DI curve for each maturity. Next, the difference between this quotation and the rate at which the operation was contracted is verified, considering the credit risk of the Company and the counterparty. This difference is multiplied by the notional value of each contract and brought to its present value based on the future DI curve. Interest rate curves were obtained from B3.</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">Swap US-CPI: liability cash flows are projected based on the US inflation curve US-CPI, obtained based on the implicit rates for inflation-linked US securities (Treasury Protected against Inflation – “TIPS”), disclosed by Bloomberg. Cash flows from the asset components are projected at the fixed rates implicit in the embedded derivatives. The fair value of an embedded derivative is the difference between the two components, adjusted to present value base on the curve of the exchange coupon obtained from B3.</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(v)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.29pt">Swap VLSFO (marine fuel): a future projection of the asset price is made, using the future price curve disclosed by Bloomberg. Next, the difference between this projection and the rate at which the operation was contracted is verified, considering both of Company’s and the counterparty’s credit risk. This difference is multiplied by the notional value of each contract and adjusted to present value using the SOFR curve disclosed by Bloomberg.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The yield curves used to calculate the fair value as of December 31, 2025 are as set forth below:</span></div><div style="margin-bottom:10pt;padding-left:27pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:23.720%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.720%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.720%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.721%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Interest rate curves</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Term</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Brazil </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">United States of America </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">US Dollar coupon </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1M</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14.90% p.a</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.70% p.a</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">23.28% p.a</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6M</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14.57% p.a</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.58% p.a</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7.91% p.a</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1Y</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13.82% p.a</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.43% pa.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6.36% p.a</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2Y</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13.19% p.a</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.31% p.a</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5.58% p.a</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3Y</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13.19% p.a</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.35% pa.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5.45% p.a</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5Y</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13.47% p.a</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.48% p.a</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5.64% p.a</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">10Y</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13.53% p.a</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.81% p.a</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6.77% p.a</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1) Source: B3</span></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2) Source: Bloomberg</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i0f4e0904fa89428d89f18e4b3c6a8729"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.5.1 Outstanding derivatives by contract type, including embedded derivatives</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The positions of outstanding derivatives are set forth below:</span></div><div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:41.511%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.673%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.673%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.673%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.678%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Notional value, net in U.S.$</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value in R$</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Instruments as part of cash flow protection strategy</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash flow hedge</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Zero Cost Collar</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,156,400</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,852,200</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">979,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,328,970)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">NDF (R$ x US$)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">90,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">581,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,355</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(331,876)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Debt hedges</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR x Fixed (US$)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,400,260</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,973,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">92,248</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">394,129</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap IPCA x CDI (notional in Brazilian Reais)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,466,620</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,128,395</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(660,777)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(825,899)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CNY x Fixed (US$)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">362,736</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">35,288</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,440)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI x Fixed (US$)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,635,783</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">909,612</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(161,443)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(776,261)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pre-fixed Swap to CDI (notional in Brazilian Reais)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,400,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,362</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI x SOFR (US$)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">660,171</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">610,171</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(165,105)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(590,764)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR x SOFR (US$)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">150,961</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(37,850)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Commodity Hedge and other</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap US$ e US-CPI </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">153,342</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">138,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">112,058</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(80,759)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Zero Cost Collar (Brent)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">359,677</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">163,941</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(33,279)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,097</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap VLSFO/Brent</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,217</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">39,706</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,100)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,873</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">230,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,567,720)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,556,978</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,006,427</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,014,683</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,880,673</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,205,029)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,760,273)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(8,136,320)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,694,547)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">230,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,567,720)</span></div></td><td style="border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:10.29pt">The embedded derivative refers to a swap contract for the sale of price variations in US$ and US-CPI within the term of a forest partnership with a standing wood supply contract.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The current contracts and the respective protected risks are set forth below:</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Swap CDI x Fixed US$: positions in conventional swaps exchanging the variation of the Interbank Deposit rate (“DI”) for a fixed rate in US$. The objective is to change the debt indexed in Brazilian Reais to US$, in compliance with the Company's natural exposure to US$ receivables. </span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Swap IPCA x CDI (notional in Brazilian Reais): positions in conventional swaps exchanging the variation of the Amplified Consumer Price Index (“IPCA”) for the DI rate. The objective is to change the debt indexed in reais, in compliance with the Company's cash position in Brazilian Reais, which is also indexed to DI.</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Swap SOFR x Fixed US$: positions in conventional swaps exchanging a post-fixed rate (SOFR) for a fixed rate in US$. The objective is to protect the cash flow against changes in the US interest rate.</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">Pre-Fixed Swap R$ x Fixed US$: positions in conventional swaps of a fixed rate in Reais for a fixed rate in US$. The objective is to change the exposure of debts in Brazilian Reais to US$, in compliance with the Company's natural exposure to US$ receivables.</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(v)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.29pt">SOFR x SOFR Swap: swap position exchanging a fixed rate added to SOFR for another fixed rate added to SOFR. The objective is to generate a fee discount for Prepayment with the banking institution, allowing for reversal mechanisms.</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(vi)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">CDI x SOFR</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Swap: positions in conventional swaps exchanging the variation in the Interbank Deposit rate (“DI”) for a post-fixed rate (“SOFR”) US$. The objective is to change the debt index in reais to US$, aligning with the natural exposure of the Company's US$ receivables and capturing a lower cost of debt through the fluctuation of SOFR rate projections.</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(vii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:7.13pt">Swap</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> CNH x USD: swap positions exchanging a fixed rate in Chinese yuan for a fixed rate in US$. The objective is to change the exposure of debts in yuan to US$, aligning with the natural exposure of the Company's receivables in US$.</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(viii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:4.55pt">Zero Cost Collar: positions in an instrument that consists of the simultaneous combination of a purchase of put options and the sale of call options in US$, with the same principal amount and maturity, with the objective of protecting the cash flow of exports. Under this strategy, an interval is established where there is no deposit or receipt of financial margin at the option maturity. The objective is to protect the cash flow of exports against the depreciation of the Brazilian Real. </span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ix)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.62pt">Non-Deliverable Forward contracts (“NDF”): short positions in US$ futures contracts with the objective of protecting the cash flow from exports against the depreciation of the Brazilian Real.</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(x)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.2pt">Swap US-CPI: The embedded derivative refers to the swap contracts for selling price variations in US$ and the US-CPI in forest partnership with a standing wood supply contract. </span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(xi)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.62pt">Non-Deliverable Forward contracts: EUR and US$: call positions at EUR/US$ parity to protect the Capex cash flow of the Cerrado project against the appreciation of the Euro.</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(xii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:7.04pt">Swap Very Low Sulphur Fuel Oil / Brent (“VLSFO”): Long positions in oil, aimed at hedging logistical costs related to maritime freight contracts against the increase in oil prices.</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(xiii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:4.46pt">Zero Cost Collar (Brent): positions in an instrument that consists of the simultaneous combination of buying call options and selling put options for oil - Brent, with the same principal value and maturity, with the objective of protecting input costs of oil derivatives. In this strategy, an interval is established where there is no deposit or receipt of financial margin at the expiration of the options. The objective is to protect costs against rising oil prices.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The variation in the fair values of derivatives on December 31, 2025 compared to the fair values measured on December 31, 2024 are explained substantially by the appreciation of the Brazilian Real against the US$ and by settlements during the year. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There were also impacts caused by the variations in the Pre Fixed, Foreign Exchange Coupon and SOFR curves in the operations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">It is important to highlight that the outstanding agreements on December 31, 2025 are over-the-counter market operations, without any type of collateral margin or forced early settlement clause due to variations from market marking.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ibc8d00ed6248416bbd0fc20ee41a0280"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.5.2 Fair Value Maturity Schedule (net amounts)</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2026</span></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">351,949</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,753,846)</span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2027</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">674,290</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,699,768)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2028</span></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">96,273</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(36,905)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2029 onwards</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(892,200)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,077,201)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">230,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,567,720)</span></div></td><td style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ieb5fae05d4dc42a0ad9dcc38bfbe313c"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.5.3 Outstanding assets and liabilities derivatives positions </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The outstanding derivatives positions are set forth below:</span></div><div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:34.194%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.512%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.242%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.669%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.242%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.676%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Notional value</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value in R$</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Currency</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Debt hedges</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI to Fixed</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">R$</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,788,534</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,748,394</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,525,172</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,482,759</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap Pre-Fixed to US$ </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR to Fixed </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,400,260</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,973,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">492,458</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">424,824</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap IPCA to CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">R$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,059,169</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,382,699</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,549,779</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">927,586</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pre-fixed Swap to CDI </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">R$</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,400,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,562,789</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI to SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">R$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,399,600</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,117,625</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">915,431</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">754,173</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CNY to Fixed</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">CNY</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,600,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">509,116</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR to SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">150,961</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,949</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,554,745</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,594,291</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI to Fixed </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,635,783</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">909,612</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,686,614)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,259,020)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap Pre-Fixed to US$ </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR to Fixed </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,400,260</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,973,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(400,210)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(30,695)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap IPCA to CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">R$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,466,620</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,128,395</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,210,556)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,753,485)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pre-fixed Swap to CDI </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">R$</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,400,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,554,427)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI to SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">660,171</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">610,171</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,080,537)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,344,937)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CNY to Fixed</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">362,736</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(473,828)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,440)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR to SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">150,961</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(42,799)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(8,406,172)</span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,437,376)</span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(851,427)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,843,085)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash flow hedge</span></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Zero Cost Collar (US$ x R$)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,156,400</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,852,200</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">979,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,328,970)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">NDF (R$ x US$)</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">90,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">581,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,355</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(331,876)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,004,060</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,660,846)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Commodity Hedge and other</span></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap US-CPI (standing wood) (1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">153,342</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">138,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">112,058</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(80,759)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Zero Cost Collar (Brent)</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">359,677</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">163,941</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(33,279)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,097</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap VLSFO/Brent</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,217</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">39,706</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,100)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,873</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">77,679</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(63,789)</span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">230,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,567,720)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:10.29pt">The embedded derivative refers to the swap contracts for selling price variations in US$ and the US-CPI in forest partnership with a standing wood supply contract.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i8e8a81e9d9894e53a0c189626cc88a18"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.5.4 Fair value settled amounts</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The settled derivatives positions are set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash flow hedge</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Zero Cost Collar (R$ x US$)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,922</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">645,759</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">NDF (R$ x US$)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(15,388)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(68,695)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">NDF (€ x US$)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(26)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">73,781</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:9pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,492)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">650,845</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Commodity Hedge and other</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(712)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">89,327</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap VLSFO/Brent</span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(712)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">89,327</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Debt hedges</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI to Fixed (US$)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">408,373</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,635,058)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap IPCA to CDI (Brazilian Reais)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(321,139)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(59,243)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CNH to fixed US$</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(16,455)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap Pre-Fixed to US$</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(221,462)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR to SOFR (US$)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,504</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI to SOFR (US$)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">212,326</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19,074</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR to Fixed (US$)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">252,250</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">603,737</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:9pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">536,859</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,290,753)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:9pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">530,655</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(550,581)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i0552ca5ccb2842fdaae4984caadb9d81"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.6 Fair value hierarchy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments are measured at fair value, which considers the fair value as the price that would be received from selling an asset or paid to transfer a liability in an unforced transaction between market participants at the measurement date. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depending on the inputs used for measurement, the financial instruments at fair value may be classified into three hierarchical levels:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Level 1 – Based on quoted prices (unadjusted) for identical assets or liabilities in active markets. A market is considered active if it trades frequently and at a sufficient volume to provide pricing information immediately and continuously, usually obtained from a commodity and stock exchange, pricing service or regulatory agency, and if the prices represent actual market transactions, which occur regularly on a commercial basis;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Level 2 - Based on the prices quoted in active markets for similar assets or liabilities, the prices quoted for identical or similar assets or liabilities in non-active markets, evaluation models for which inputs are observable , such as rates of interest and yield curves, credit volatilities and spreads, and market corroborated information. Assets and liabilities classified in this category are measured based on the discounted cash flow and interest accrual, respectively, for derivative financial instruments and marketable securities. The observable inputs include interest rates and curves, volatility factors and foreign exchange rates; and </span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Level 3 – Based on unquoted data for assets and liabilities, where the Company applies the income approach technique using the discounted cash flow model. The observable inputs used are the IMA, discount rate and eucalyptus average gross sales price.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the year ended December 31, 2025, there were no changes between the levels of hierarchy and no transfers between levels 1, 2 and 3.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:35.198%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.257%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Level 1</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Level 2</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Level 3</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">At fair value through profit or loss</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,571,661</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,571,661</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Marketable securities</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,274,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,978,015</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,252,454</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,274,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,549,676</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19,824,115</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">At fair value through other comprehensive income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other investments (note 14.1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">865,986</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">35,195</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">901,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">865,986</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">35,195</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">901,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Biological assets </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,097,164</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,097,164</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,097,164</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,097,164</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,140,425</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,549,676</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,132,359</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">46,822,460</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">At fair value through profit or loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:35.772%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Level 1</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Level 2</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Level 3</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">At fair value through profit or loss</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,887,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,887,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Marketable securities</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,203,776</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,159,735</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,363,511</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,203,776</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">16,046,835</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,250,611</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">At fair value through other comprehensive income</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other investments - (note 14.1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">38,196</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,138,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,099,870</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">38,196</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,138,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Biological assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,283,001</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,283,001</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,283,001</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,283,001</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total assets</span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,303,646</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">16,046,835</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,321,197</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">40,671,678</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">At fair value through profit or loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total liabilities</span></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i8fabbb0d89d04d35b707768164fcddbe"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.7 Cybersecurity</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Suzano has a Public Information Security Policy, which aims to establish guidelines regarding cyber security management and controls at Suzano, seeking to mitigate vulnerabilities, preserve and protect assets, mainly information and personal data, in accordance with current laws, regulations and contractual obligations, covering the confidentiality, integrity, availability, authenticity and legality of information. The Policy establishes responsibilities to avoid damages, which may represent financial impacts, image and reputation, exposure of information, interruption of operations, among other damages due to cyber-attacks.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the year ended December 31, 2025, no material incidents associated with cybersecurity were identified that could affect the confidentiality, integrity and/or availability of the systems used by the Company.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i0c5bc0cc01fb45cca440c1afd861babf"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.8 Climate change</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i7de6dd8a6f1945f09b5601c8dc3538e9"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.8.1 Risks linked to climate change and the sustainability strategy</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In view of the nature of the Company's operations, there is inherent exposure to risks related to climate change.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's assets, notably biological assets, which are measured at fair value (Note 13), property, plant and equipment (Note 15) and intangible assets (Note 16), may be impacted by climate change, the risks of which were evaluated in the context of preparation of financial statements. For the year ended December 31, 2025, Management considered the main risk data and assumptions highlighted below:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Possible impacts on the determination of fair value in biological assets due to: Effects of climate change, such as temperature rises and scarcity of water resources, could impact some of the assumptions used in accounting estimates related to the Company's biological assets, as follow:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Loss of biological assets due to fires and impacts arising from the greater presence and resistance of pests and other forest diseases favored by the gradual increase in temperature;</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Reduction in productivity and expected growth (“IMA”) due to reduced availability of water resources in river basins and other atypical weather events such as droughts, frosts and torrential rains; and</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Interruptions to the production chain due to adverse weather events.</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Scarcity of water resources in the industry: although our units are efficient in the use of water, there are contingency plans for all units affected by possible water shortages and action plans to confront the water crisis in critical regions.</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Structural changes in society and their impacts on business, such as:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Regulatory and legal: arising from changes in the Brazilian and/or international scope that require capital investment in new technologies and/or operating costs. Among the expected topics are carbon pricing, customs carbon taxation, trade barriers and/or commercial restrictions related to businesses’ alleged contributions, even if indirect, to the intensification of climate change, which increase the risk of litigation;</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Technological: arising from the emergence of improvements and innovations towards an economy with greater energy efficiency and lower carbon. Suzano should continue investing in technology to reduce greenhouse gas emissions;</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Markets: arising from changes to the supply of and demand for certain products and services as climate-related issues begin to be considered in decision-making. The market should increasingly prioritize the reduction of carbon emissions and more sustainable business practices, which may lead to changes in demand for and revenues from Suzano’s products and an increase in demand for renewable forests and other sustainable products; and</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:13.02pt">Reputational: related to the perceptions of customers and society in general regarding the positive or negative contribution of an organization to a low carbon economy.</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">Natural storms, hurricanes, and cyclones: events exacerbated by climate change that can generate direct and/or indirect impacts on Suzano's industrial and forestry operations (material damage and operational disruptions) as well as on its logistics operations and value chain.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i7e5dd82a60644b5f8cb51ccebc99f59f"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.8.2 Compliance with contractual clauses related to sustainability in debt securities and sustainable loans (Sustainability Linked Bonds - “SLB” and Sustainability Linked Loans – “SLL”)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company issued debt securities and loans linked to sustainability performance targets ("Sustainability Performance Targets - SPT") related to the reduce the intensity of our greenhouse gas emissions, reduce the intensity of water capture for use in industrial processes, the implementation of ecological corridors connecting areas of native vegetation and increase the percentage of women in leadership positions. Non-compliance with these targets may generate future increases in the cost of said debts, while the compliance with the targets may result in a reduction in the cost of SLL's, as provided for in the respective contracts.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company issued securities based on the SLB Principles, expanding over time the scope of the targets linked to these instruments, which came to include, in addition to environmental objectives, social targets, including diversity, equity, and inclusion. The established targets and their respective financial impacts on instruments classified as SLBs are detailed in the public offering prospectuses of each transaction.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additionally, the Company entered into Sustainability-Linked Loans (SLLs) with financial institutions and syndicates of commercial banks, in accordance with the SLL Principles guidelines, reinforcing the integration of sustainability criteria into its financing strategy.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ib1196ba85e434b4b87e62cab65959dde"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.8.3 Climate risk management</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has a structure dedicated to corporate risk management, including risks related to climate change, with its own methodologies, tools and processes aimed at ensuring the identification, assessment and treatment of its main risks. Such a structure, through its management framework, enables continuous monitoring of risks and their potential impacts, the identification of the variables involved, and the tracking of mitigating measures aimed at reducing the identified exposures.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's assessment of the potential physical impacts of climate change, as well as those arising from the transition to a low carbon economy is carried out on an ongoing basis, and will continue to evolve.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ic40df2562a3d466d8a8475d7f2a4a42a"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.8.4 Opportunities linked to climate change and the sustainability strategy</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="if0c05322d5534520a794f115ceb3b1c7"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.8.4.1 Securities with clauses related to sustainability </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As disclosed in note 4.8.2, Suzano has Sustainability Linked Bonds (SLB) and Sustainability Linked Loan (SLL) linked to environmental performance indicators associated with a goal to reduce greenhouse gases, intensity the capture of water resources, biodiversity, and aspects of diversity and inclusion, evidencing the Company's commitment as part of the solution to the global climate crisis and in convergence with the implementation of its long-term goals. These funding linked to sustainability goals allow for differentiated interest rates.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i81ce43bc67b94e5aa69bc00344f41a11"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">4.9 Capital management</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main objective is to strengthen the Company’s capital structure, aiming to maintain an appropriate level of financial leverage while mitigating risks that could affect the availability of capital for business development.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company continuously monitors significant indicators, such as consolidated financial leverage, which is the ratio of total net debt to adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (“Adjusted EBITDA”).</span></div> <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">All transactions with financial instruments are recognized for accounting purposes and classified in the following categories:</span></div><div style="margin-bottom:10pt;padding-left:31.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:59.445%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Note</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amortized cost </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,179,753</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,018,818</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Trade accounts receivable</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,560,607</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,132,860</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other assets </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">595,069</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">628,275</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,335,429</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,779,953</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value through other comprehensive income</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Investments</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14.1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">901,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,138,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">901,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,138,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value through profit or loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4.5.1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,571,661</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,887,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Marketable securities</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,252,454</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,363,511</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19,824,115</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,250,611</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">43,060,725</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">37,168,630</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amortized cost</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Trade accounts payable</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,141,386</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,033,285</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Loans, financing and debentures</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18.1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">94,801,257</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101,435,531</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Lease liabilities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19.2</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,929,890</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,972,915</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities for assets acquisitions and subsidiaries</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">23</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">94,840</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">120,490</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Dividends and interests on own capital payable</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,393,121</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,200,917</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other liabilities </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">141,884</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">143,330</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">108,502,378</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">116,906,468</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value through profit or loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-right:-6.07pt;text-align:center;text-indent:-7.9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4.5.1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:22.15pt;padding-right:0.85pt;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:22.15pt;padding-right:0.85pt;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">117,843,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">127,361,288</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:22.15pt;padding-right:0.85pt;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">74,783,002</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">90,192,658</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:10.29pt">Does not include items not classified as financial instruments.</span></div> 15179753000 9018818000 6560607000 9132860000 595069000 628275000 22335429000 18779953000 901181000 1138066000 901181000 1138066000 9571661000 3887100000 10252454000 13363511000 19824115000 17250611000 43060725000 37168630000 5141386000 6033285000 94801257000 101435531000 6929890000 6972915000 94840000 120490000 1393121000 2200917000 141884000 143330000 108502378000 116906468000 9341349000 10454820000 9341349000 10454820000 117843727000 127361288000 74783002000 90192658000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The estimated fair values of loans and financing are set forth below:</span></div><div style="margin-bottom:10pt;padding-left:27pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Yield used to discount/methodology</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Quoted in the secondary market</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In foreign currency</span></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-align:center;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Bonds</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Secondary Market</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">36,655,663</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">48,734,909</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Estimated present value</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In foreign currency</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Export credits (“Prepayment”)</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,404,795</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,740,891</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Assets Financing</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">277,172</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">422,115</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ECA - Export Credit Agency</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,979,202</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">864,202</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">IFC - International Finance Corporation</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,442,675</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,261,715</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Panda Bonds - CNY</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fixed</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,964,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">951,125</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">In local currency</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BNDES – TJLP</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">95,167</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">171,109</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BNDES – TLP</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,193,766</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,275,012</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BNDES – TR</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">90,356</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">33,466</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BNDES – Selic (“Special Settlement and Custody System”)</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">547,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">645,139</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">BNDES – UMBNDES</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 2</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">253,500</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">106,966</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Assets Financing</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">49,911</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">60,566</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Debentures</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1/IPCA</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,873,596</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,002,992</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NCE (“Export Credit Notes”) </span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">105,865</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">108,308</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">NCR (“Rural Credit Notes”)</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,520,478</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,424,457</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">CPR ("Rural Product Note")</span></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,472,697</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ECO INVEST – Agroindustrial Credit</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">DI 1</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">334,422</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">88,260,594</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">98,802,972</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> Secondary Market 36655663000 48734909000 SOFR 18404795000 22740891000 SOFR 277172000 422115000 SOFR 1979202000 864202000 864202000 SOFR 5442675000 6261715000 Fixed 1964329000 951125000 DI 1 95167000 171109000 DI 1 4193766000 3275012000 DI 1 90356000 33466000 33466000 DI 1 547000000 645139000 DI 2 253500000 106966000 DI 1 49911000 60566000 DI 1/IPCA 10873596000 12002992000 DI 1 105865000 108308000 DI 1 5520478000 2424457000 DI 1 1472697000 DI 1 334422000 88260594000 98802972000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amounts as set forth below consist of undiscounted cash flow, and include interest payments and exchange rate variations, and therefore may not reconcile with the amounts disclosed in the balance sheet.</span></div><div style="margin-bottom:10pt;padding-left:13.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:30.176%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.808%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.660%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.246%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Book value</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Undiscounted cash flow</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Up to 1 year</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1 - 2 years</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2 - 5 years</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">More than 5 years</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Trade accounts payables</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,141,386</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,141,386</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,141,386</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Loans, financing and debentures </span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">94,801,257</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">136,586,565</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,690,098</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,894,643</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">46,428,491</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">67,573,333</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Lease liabilities</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,929,890</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,281,230</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,761,632</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,235,951</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,161,325</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,122,322</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liabilities for asset acquisitions and subsidiaries</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">94,840</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">115,108</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19,904</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">18,993</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">76,211</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Derivative financial instruments </span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,741,567</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,139,273</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">849,920</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,815,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,936,669</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Dividends and interests on own capital payable</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,393,121</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,393,121</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,393,121</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other liabilities</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">141,884</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">141,884</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">49,554</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">92,330</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">117,843,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">170,400,861</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,194,968</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19,091,837</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">53,481,732</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">81,632,324</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:13.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:30.176%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.808%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.660%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.086%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.246%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Book <br/>value</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Undiscounted cash flow</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Up to 1 year</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1 - 2 years</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2 - 5 years</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">More than 5 years</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Trade accounts payables</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,033,285</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,033,285</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,033,285</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Loans, financing and debentures </span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">101,435,531</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">142,028,543</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,599,011</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">14,235,170</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50,858,667</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">63,335,695</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Lease liabilities</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,972,915</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,099,294</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,302,590</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,176,832</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,094,493</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,525,379</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Liabilities for asset acquisitions and subsidiaries</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">120,490</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">146,082</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">23,425</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">22,400</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">100,257</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Derivative financial instruments </span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,878,150</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,676,180</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">957,540</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,489,357</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,755,073</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Dividends and interests on own capital payable</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,200,917</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,200,917</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,200,917</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other liabilities</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">143,330</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">143,330</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">60,892</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">82,438</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">127,361,288</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">176,529,601</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">24,896,300</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,474,380</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">55,542,774</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">79,616,147</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 5141386000 5141386000 5141386000 94801257000 136586565000 5690098000 16894643000 46428491000 67573333000 6929890000 13281230000 2761632000 1235951000 3161325000 6122322000 94840000 115108000 19904000 18993000 76211000 9341349000 13741567000 1139273000 849920000 3815705000 7936669000 1393121000 1393121000 1393121000 141884000 141884000 49554000 92330000 117843727000 170400861000 16194968000 19091837000 53481732000 81632324000 6033285000 6033285000 6033285000 101435531000 142028543000 13599011000 14235170000 50858667000 63335695000 6972915000 12099294000 1302590000 1176832000 3094493000 6525379000 120490000 146082000 23425000 22400000 100257000 10454820000 13878150000 1676180000 957540000 1489357000 9755073000 2200917000 2200917000 2200917000 143330000 143330000 60892000 82438000 127361288000 176529601000 24896300000 16474380000 55542774000 79616147000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The risk classification of trade accounts receivable is set forth below:</span></div><div style="margin-bottom:10pt;padding-left:27pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:74.796%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.381%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Consolidated</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Low - current and overdue up to 30 days</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,270,686</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,899,516</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average - overdue between 30 and 90 days</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">154,155</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">174,048</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">High - </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline"> </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">overdue more than 90 days</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">267,314</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">89,596</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,692,155</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,163,160</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 6270686000 8899516000 154155000 174048000 267314000 89596000 6692155000 9163160000 131548000 30300000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The book value of financial assets representing exposure to credit risk is set forth below:</span></div><div style="margin-bottom:10pt;padding-left:13.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:76.231%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.660%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.663%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">Consolidated</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,179,753</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,018,818</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Marketable securities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,252,454</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,363,511</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,571,661</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,887,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">35,003,868</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,269,429</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1) Does not include the derivative embedded in a forest partnership agreement for the supply of standing wood, which is not a transaction with a financial institution.</span></div> 15179753000 9018818000 10252454000 13363511000 9571661000 3887100000 35003868000 26269429000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The counterparties, mainly financial institutions, with whom the transactions are performed classified under cash and cash equivalents, marketable securities and derivatives financial instruments, are rated by the main ratings agencies. The risk ratings are set forth below:</span></div><div style="margin-bottom:10pt;padding-left:13.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:50.693%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.384%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash and cash equivalents and marketable securities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Risk rating </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">AAA</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">232,908</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">AA-</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">476,535</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">286,906</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">A+</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,055</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">94,638</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">148,029</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">A</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,146</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">A-</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">37,081</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brAAA</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,984,803</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20,830,651</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,870,122</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,747,948</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brAA+</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">576</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">658,880</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brAA</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">473</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">755</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brAA-</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">252,945</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,246</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brA</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">117,736</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">31,504</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brBBB-</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brBB</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">710</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">brBB-</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">750,359</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">156,450</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Others</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">29,521</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">109,448</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">114,974</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">314,859</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25,432,207</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,382,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,571,661</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,887,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1) We use the Brazilian Risk Ratings issued by the agencies Fitch Ratings, Standard &amp; Poor’s and Moody’s.</span></div> 232908000 476535000 286906000 9055000 94638000 148029000 6146000 37081000 24984803000 20830651000 8870122000 2747948000 576000 658880000 473000 755000 252945000 19000 9246000 117736000 31504000 3000 710000 17000 750359000 156450000 29521000 109448000 114974000 314859000 25432207000 22382329000 9571661000 3887100000 P24Y <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The assets and liabilities that are exposed to foreign currency, substantially in USD, are set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,919,897</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,496,039</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Marketable securities</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">427,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">70,255</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Trade accounts receivable</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,705,509</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,090,160</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,404,458</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,887,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,457,193</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,543,554</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities </span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Trade accounts payable</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,075,590)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,350,763)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Loans and financing</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(70,357,356)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(83,004,915)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities for asset acquisitions and subsidiaries</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(66,446)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(93,308)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,614,888)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(10,448,379)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(76,114,280)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(94,897,365)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(53,657,087)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(77,353,811)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 11919897000 6496039000 427329000 70255000 4705509000 7090160000 5404458000 3887100000 22457193000 17543554000 1075590000 1350763000 70357356000 83004915000 66446000 93308000 4614888000 10448379000 76114280000 94897365000 -53657087000 -77353811000 5.5024 0.25 0.50 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table set forth the potential impacts at their absolute amounts:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Effect on profit or loss</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Probable (base value)</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Possible (25%)</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Remote (50%)</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash and cash equivalents</span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,919,897</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,979,974)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,959,949)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Marketable securities</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">427,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(106,832)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(213,665)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Trade accounts receivable</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,705,509</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,176,377)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,352,755)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Trade accounts payable</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,075,590)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(268,898)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(537,795)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Loans and financing</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(70,357,356)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(17,589,339)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(35,178,678)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Liabilities for asset acquisitions and subsidiaries</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(66,446)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(16,612)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(33,223)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table set out the possible impacts assuming these scenarios:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Effect on profit or loss</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Probable (base value)</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Possible 25%</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Remote 50%</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Dollar/Real</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments </span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative options</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">979,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,707,051)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(13,025,130)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative swaps</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(851,428)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,164,776)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,396,550)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative Non-Deliverable Forward (‘NDF’) Contracts</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,355</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(121,626)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(243,252)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Embedded derivatives</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">112,058</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(177,738)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(355,477)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Commodity Derivatives</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(34,379)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(9,503)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(18,280)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table set forth the possible impacts assuming these scenarios in absolute amounts:</span></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Effect on profit or loss</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Probable</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Possible (25%)</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Remote (50%)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">CDI/SELIC</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash and cash equivalents</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,204,403</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(119,364)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(238,728)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Marketable securities</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,917,258</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(294,918)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(589,836)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Loans and financing</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,825,045</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(328,733)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(657,466)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">TJLP</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Loans and financing</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101,302</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,297)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,594)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">SOFR</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Loans and financing</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25,195,489</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(243,766)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(487,533)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table sets out the possible impacts of these assumed scenarios:</span></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Effect on profit or loss</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Probable</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Probable 25%</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Remote 50%</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">CDI</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivative options</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">979,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(654,459)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,256,399)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivative swaps</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(851,428)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(646,114)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,188,904)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">SOFR</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Derivative swaps</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(851,428)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(130,162)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(253,566)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table sets out the possible impacts, assuming these scenarios in absolute amounts:</span></div><div style="margin-bottom:10pt;padding-left:27pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="15" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="15" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Effect on profit or loss</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Probable (base value)</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Possible (25%)</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Remote (50%)</span></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Embedded derivative in a commitment to purchase standing wood, originating from a forest partnership agreement</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">112,058</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(27,632)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(58,468)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 11919897000 -2979974000 -5959949000 427329000 -106832000 -213665000 4705509000 -1176377000 -2352755000 -1075590000 -268898000 -537795000 -70357356000 -17589339000 -35178678000 -66446000 -16612000 -33223000 P24Y 0.25 0.50 979705000 -5707051000 -13025130000 -851428000 -3164776000 -6396550000 24355000 -121626000 -243252000 112058000 -177738000 -355477000 -34379000 -9503000 -18280000 0.25 0.50 3204403000 -119364000 -238728000 7917258000 -294918000 -589836000 8825045000 -328733000 -657466000 101302000 -2297000 -4594000 25195489000 -243766000 -487533000 0.25 0.50 979705000 -654459000 -1256399000 -851428000 -646114000 -1188904000 -851428000 -130162000 -253566000 0.25 0.50 112058000 -27632000 -58468000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The yield curves used to calculate the fair value as of December 31, 2025 are as set forth below:</span></div><div style="margin-bottom:10pt;padding-left:27pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:23.720%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.720%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.720%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.721%"></td><td style="width:0.1%"></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Interest rate curves</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Term</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Brazil </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">United States of America </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">US Dollar coupon </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1M</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14.90% p.a</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.70% p.a</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">23.28% p.a</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6M</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14.57% p.a</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.58% p.a</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7.91% p.a</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1Y</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13.82% p.a</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.43% pa.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6.36% p.a</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2Y</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13.19% p.a</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.31% p.a</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5.58% p.a</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3Y</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13.19% p.a</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.35% pa.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5.45% p.a</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5Y</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13.47% p.a</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.48% p.a</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5.64% p.a</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">10Y</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13.53% p.a</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.81% p.a</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6.77% p.a</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">1) Source: B3</span></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2) Source: Bloomberg</span></div> 0.1490 0.0370 0.2328 0.1457 0.0358 0.0791 0.1382 0.0343 0.0636 0.1319 0.0331 0.0558 0.1319 0.0335 0.0545 0.1347 0.0348 0.0564 0.1353 0.0381 0.0677 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The positions of outstanding derivatives are set forth below:</span></div><div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:41.511%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.673%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.673%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.673%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.678%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Notional value, net in U.S.$</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value in R$</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Instruments as part of cash flow protection strategy</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash flow hedge</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Zero Cost Collar</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,156,400</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,852,200</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">979,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,328,970)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">NDF (R$ x US$)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">90,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">581,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,355</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(331,876)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Debt hedges</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR x Fixed (US$)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,400,260</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,973,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">92,248</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">394,129</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap IPCA x CDI (notional in Brazilian Reais)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,466,620</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,128,395</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(660,777)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(825,899)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CNY x Fixed (US$)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">362,736</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">35,288</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,440)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI x Fixed (US$)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,635,783</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">909,612</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(161,443)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(776,261)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pre-fixed Swap to CDI (notional in Brazilian Reais)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,400,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,362</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI x SOFR (US$)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">660,171</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">610,171</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(165,105)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(590,764)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR x SOFR (US$)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">150,961</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(37,850)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Commodity Hedge and other</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap US$ e US-CPI </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">153,342</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">138,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">112,058</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(80,759)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Zero Cost Collar (Brent)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">359,677</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">163,941</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(33,279)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,097</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap VLSFO/Brent</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,217</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">39,706</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,100)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,873</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">230,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,567,720)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,556,978</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,006,427</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-current assets</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,014,683</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,880,673</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Current liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,205,029)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,760,273)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-current liabilities</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(8,136,320)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,694,547)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">230,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,567,720)</span></div></td><td style="border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:10.29pt">The embedded derivative refers to a swap contract for the sale of price variations in US$ and US-CPI within the term of a forest partnership with a standing wood supply contract.</span></div> 6156400000 6852200000 979705000 -4328970000 90000000 581000000 24355000 -331876000 2400260000 1973705000 92248000 394129000 10466620000 8128395000 -660777000 -825899000 362736000 35288000 -6440000 -6440000 1635783000 909612000 -161443000 -776261000 2400000000 8362000 660171000 610171000 -165105000 -590764000 150961000 -37850000 153342000 138439000 112058000 -80759000 359677000 163941000 -33279000 6097000 1217000 39706000 -1100000 10873000 230312000 -6567720000 1556978000 1006427000 8014683000 2880673000 1205029000 2760273000 8136320000 7694547000 230312000 -6567720000 <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2026</span></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">351,949</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,753,846)</span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2027</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">674,290</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,699,768)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2028</span></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">96,273</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(36,905)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2029 onwards</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(892,200)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,077,201)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">230,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,567,720)</span></div></td><td style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 351949000 -1753846000 674290000 -1699768000 96273000 -36905000 -892200000 -3077201000 230312000 -6567720000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The outstanding derivatives positions are set forth below:</span></div><div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:34.194%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.512%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.242%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.669%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.242%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.676%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Notional value</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value in R$</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Currency</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Debt hedges</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI to Fixed</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">R$</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,788,534</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,748,394</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,525,172</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,482,759</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap Pre-Fixed to US$ </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR to Fixed </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,400,260</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,973,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">492,458</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">424,824</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap IPCA to CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">R$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,059,169</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,382,699</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,549,779</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">927,586</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pre-fixed Swap to CDI </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">R$</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,400,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,562,789</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI to SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">R$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,399,600</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,117,625</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">915,431</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">754,173</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CNY to Fixed</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">CNY</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,600,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">509,116</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR to SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">150,961</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,949</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,554,745</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,594,291</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI to Fixed </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,635,783</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">909,612</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,686,614)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,259,020)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap Pre-Fixed to US$ </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR to Fixed </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,400,260</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,973,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(400,210)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(30,695)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap IPCA to CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">R$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,466,620</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,128,395</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,210,556)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,753,485)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pre-fixed Swap to CDI </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">R$</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,400,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,554,427)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI to SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">660,171</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">610,171</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,080,537)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,344,937)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CNY to Fixed</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">362,736</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(473,828)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,440)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR to SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">150,961</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(42,799)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(8,406,172)</span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,437,376)</span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(851,427)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,843,085)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash flow hedge</span></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Zero Cost Collar (US$ x R$)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,156,400</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,852,200</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">979,705</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,328,970)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">NDF (R$ x US$)</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$ </span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">90,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">581,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,355</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(331,876)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,004,060</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,660,846)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Commodity Hedge and other</span></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap US-CPI (standing wood) (1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">153,342</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">138,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">112,058</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(80,759)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Zero Cost Collar (Brent)</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">359,677</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">163,941</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(33,279)</span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,097</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap VLSFO/Brent</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">US$</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,217</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">39,706</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,100)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,873</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">77,679</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(63,789)</span></div></td><td style="background-color:#ececec;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">230,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,567,720)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-indent:-22.5pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:10.29pt">The embedded derivative refers to the swap contracts for selling price variations in US$ and the US-CPI in forest partnership with a standing wood supply contract.</span></div> 8788534000 4748394000 2525172000 1482759000 2400260000 1973705000 492458000 424824000 11059169000 8382699000 1549779000 927586000 2400000000 1562789000 3399600000 3117625000 915431000 754173000 2600000000 509116000 150961000 4949000 7554745000 3594291000 1635783000 909612000 -2686614000 -2259020000 2400260000 1973705000 -400210000 -30695000 10466620000 8128395000 -2210556000 -1753485000 2400000000 -1554427000 660171000 610171000 -1080537000 -1344937000 362736000 -473828000 -6440000 150961000 -42799000 -8406172000 -5437376000 -851427000 -1843085000 6156400000 6852200000 979705000 -4328970000 90000000 581000000 24355000 -331876000 1004060000 -4660846000 153342000 138439000 112058000 -80759000 359677000 163941000 -33279000 6097000 1217000 39706000 -1100000 10873000 77679000 -63789000 230312000 -6567720000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The settled derivatives positions are set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash flow hedge</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Zero Cost Collar (R$ x US$)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,922</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">645,759</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">NDF (R$ x US$)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(15,388)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(68,695)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">NDF (€ x US$)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(26)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">73,781</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:9pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,492)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">650,845</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Commodity Hedge and other</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(712)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">89,327</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap VLSFO/Brent</span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(712)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">89,327</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Debt hedges</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI to Fixed (US$)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">408,373</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,635,058)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap IPCA to CDI (Brazilian Reais)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(321,139)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(59,243)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CNH to fixed US$</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(16,455)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap Pre-Fixed to US$</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(221,462)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR to SOFR (US$)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,504</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap CDI to SOFR (US$)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">212,326</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19,074</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Swap SOFR to Fixed (US$)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">252,250</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">603,737</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:9pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">536,859</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,290,753)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:9pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">530,655</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(550,581)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 9922000 645759000 -15388000 -68695000 -26000 73781000 -5492000 650845000 -712000 89327000 -712000 89327000 408373000 -1635058000 -321139000 -59243000 -16455000 -221462000 1504000 212326000 19074000 252250000 603737000 536859000 -1290753000 530655000 -550581000 <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:35.198%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.257%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Level 1</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Level 2</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Level 3</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">At fair value through profit or loss</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,571,661</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,571,661</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Marketable securities</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,274,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,978,015</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,252,454</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,274,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,549,676</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19,824,115</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">At fair value through other comprehensive income</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other investments (note 14.1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">865,986</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">35,195</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">901,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">865,986</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">35,195</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">901,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Biological assets </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,097,164</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,097,164</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,097,164</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,097,164</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total assets</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,140,425</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,549,676</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,132,359</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">46,822,460</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">At fair value through profit or loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9.05pt"><span><br/></span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,341,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span><br/></span></div><div style="margin-bottom:3pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:35.772%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Level 1</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Level 2</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Level 3</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">At fair value through profit or loss</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,887,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,887,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Marketable securities</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,203,776</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,159,735</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,363,511</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,203,776</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">16,046,835</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,250,611</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">At fair value through other comprehensive income</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other investments - (note 14.1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">38,196</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,138,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,099,870</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">38,196</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,138,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Biological assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,283,001</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,283,001</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,283,001</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,283,001</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total assets</span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,303,646</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">16,046,835</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,321,197</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">40,671,678</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">At fair value through profit or loss</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative financial instruments</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total liabilities</span></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,454,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 9571661000 9571661000 1274439000 8978015000 10252454000 1274439000 18549676000 19824115000 865986000 35195000 901181000 865986000 35195000 901181000 26097164000 26097164000 26097164000 26097164000 2140425000 18549676000 26132359000 46822460000 9341349000 9341349000 9341349000 9341349000 9341349000 9341349000 3887100000 3887100000 1203776000 12159735000 13363511000 1203776000 16046835000 17250611000 38196000 1138066000 1099870000 38196000 1138066000 22283001000 22283001000 22283001000 22283001000 2303646000 16046835000 22321197000 40671678000 10454820000 10454820000 10454820000 10454820000 10454820000 10454820000 <div style="margin-bottom:11pt"><span id="i02d9a1d0aea14c89a6c6a5cb45fec30b"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">5 CASH AND CASH EQUIVALENTS</span></div><div style="margin-bottom:10pt;padding-left:27pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:46.532%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.416%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average yield p.a. %</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash and banks </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#f2f2f2;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4.00%</span></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,881,326</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#f2f2f2;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,596,510</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#f2f2f2;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash equivalents</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Local currency</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fixed-term deposits</span></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101.37</span></div></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">% of CDI</span></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,204,403</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,422,308</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign currency</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fixed-term deposits </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4.58%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,094,024</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,179,753</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#f2f2f2;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,018,818</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#f2f2f2;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Refers mainly to investments in foreign currency under the Sweep Account modality, which is a remunerated account the balance of which is invested and made available automatically each day.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Refers to Time Deposit applications, with maturity up to 90 days, which is a remunerated bank deposit with a specific maturity period and is subject to an insignificant risk of changes in value.</span></div> <div style="margin-bottom:10pt;padding-left:27pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:46.532%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.416%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average yield p.a. %</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><div><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash and banks </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#f2f2f2;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4.00%</span></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,881,326</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#f2f2f2;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,596,510</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#f2f2f2;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cash equivalents</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Local currency</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%"> </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fixed-term deposits</span></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101.37</span></div></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">% of CDI</span></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,204,403</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,422,308</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#f2f2f2;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign currency</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fixed-term deposits </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4.58%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,094,024</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">—</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,179,753</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#f2f2f2;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="2" style="background-color:#f2f2f2;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,018,818</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#f2f2f2;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Refers mainly to investments in foreign currency under the Sweep Account modality, which is a remunerated account the balance of which is invested and made available automatically each day.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Refers to Time Deposit applications, with maturity up to 90 days, which is a remunerated bank deposit with a specific maturity period and is subject to an insignificant risk of changes in value.</span></div> 0.0400 9881326000 6596510000 1.0137 3204403000 2422308000 0.0458 2094024000 0 15179753000 9018818000 <div style="margin-bottom:11pt"><span id="i18d1be8c74fb406e811f664d7a052136"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">6 MARKETABLE SECURITIES</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:46.676%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.273%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average yield p.a. %</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">In local currency</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Private funds</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99.71% of CDI</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">526,526</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">552,635</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Private Securities ("CDBs")</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">100.91% of CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,045,434</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,144,881</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Public Securities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">IPCA + 6.14%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,274,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,203,776</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">CDBs - Escrow Account </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99.61% of CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">319,680</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">391,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Public Securities - Instituto de Crédito Oficial (ICO)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12.64%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">633,428</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99.99% of CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25,618</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:11.3pt;padding-right:0.85pt;text-align:right;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,825,125</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,293,256</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign currency</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:11.3pt;padding-right:0.85pt;text-align:right;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Time deposits </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4.68%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">421,291</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:11.3pt;padding-right:0.85pt;text-align:right;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,038</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">70,255</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:11.3pt;padding-right:0.85pt;text-align:right;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">427,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">70,255</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,252,454</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,363,511</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,932,774</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,971,547</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-Current</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">319,680</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">391,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Refers to escrow accounts, which will be released only after obtaining the applicable governmental approvals, and pending compliance by the Company with the conditions precedent in transactions involving the sale of rural properties.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Refers to Time Deposit investments, with maturities over 90 days, which are remunerated bank deposits with specific maturity periods.</span></div> <div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:46.676%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:19.273%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average yield p.a. %</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">In local currency</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Private funds</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99.71% of CDI</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">526,526</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">552,635</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Private Securities ("CDBs")</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">100.91% of CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,045,434</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,144,881</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Public Securities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">IPCA + 6.14%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,274,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,203,776</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">CDBs - Escrow Account </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99.61% of CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">319,680</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">391,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Public Securities - Instituto de Crédito Oficial (ICO)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12.64%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">633,428</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99.99% of CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25,618</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:11.3pt;padding-right:0.85pt;text-align:right;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,825,125</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,293,256</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign currency</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:11.3pt;padding-right:0.85pt;text-align:right;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Time deposits </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4.68%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">421,291</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:11.3pt;padding-right:0.85pt;text-align:right;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,038</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">70,255</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:11.3pt;padding-right:0.85pt;text-align:right;text-indent:-7.1pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">427,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">70,255</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,252,454</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,363,511</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,932,774</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,971,547</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-Current</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">319,680</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">391,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Refers to escrow accounts, which will be released only after obtaining the applicable governmental approvals, and pending compliance by the Company with the conditions precedent in transactions involving the sale of rural properties.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Refers to Time Deposit investments, with maturities over 90 days, which are remunerated bank deposits with specific maturity periods.</span></div> 0.9971 526526000 552635000 1.0091 7045434000 11144881000 0.0614 1274439000 1203776000 0.9961 319680000 391964000 0.1264 633428000 0.9999 25618000 9825125000 13293256000 0.0468 421291000 6038000 70255000 427329000 70255000 10252454000 13363511000 9932774000 12971547000 319680000 391964000 <div style="margin-bottom:11pt"><span id="if54e2582c79d48ef9a89ec4f1bb73de0"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">7 TRADE ACCOUNTS RECEIVABLE</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="if89080b3c6ae431b88ef4b880b08a8a3"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">7.1 Breakdown of balances</span></div><div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Domestic customers</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Third parties</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,918,437</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,989,455</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Related parties (Note 11.1) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">68,209</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">83,343</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign customers</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Third parties</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,705,509</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,090,160</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Related parties (Note 11.1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">202</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Expected credit losses (ECL)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(131,548)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(30,300)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,560,607</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,132,860</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The balance refers to transactions with Ibema Companhia Brasileira de Papel.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company carries out factoring transactions for certain customer receivables where it transfers the control of all risks and rewards related to these receivables to the counterparty, so these receivables are derecognized from accounts receivable in the balance sheet. This transaction refers to an additional cash generation opportunity which can be discontinued at any time without significant impacts on the Company's operation and is therefore classified as a financial asset measured at amortized cost. The decision to assign the receivables is continuously reassessed based on market conditions and the Company's cash flow strategy, meaning that the volume of discounts may vary over time. The impact of these factoring transactions on the accounts receivable as of December 31, 2025, was R$6,616,450 (R$6,821,539 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i894a3009bd2e4e1aae73367d923975e2"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">7.2 Breakdown of trade accounts receivable by maturity</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current</span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,794,713</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,216,570</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Overdue</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Up to 30 days</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">465,967</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">682,142</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">From 31 to 60 days</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">89,398</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">134,674</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">From 61 to 90 days</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">44,305</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">38,187</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">From 91 to 120 days</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">21,225</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,701</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">From 121 to 180 days</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">45,072</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,402</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">From 181 days</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99,927</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">31,184</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,560,607</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,132,860</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iad3866fe31054f1e832a72568cdc17a8"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">7.3 Roll-forward of expected credit losses</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%"> Opening balance</span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(30,300)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(31,962)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(Provisions)/Reversals, net</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(119,417)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,585)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Write-offs</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">16,937</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,790</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Exchange rate variations </span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,232</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,543)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%"> Closing balance</span></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(131,548)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(30,300)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company maintains guarantees for overdue receivables as part of its commercial operations, through credit insurance policies, letters of credit and other guarantees. These guarantees avoid the need to recognize expected credit losses, in accordance with the Company's credit policy. </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i4f5cb9a6ab8741a39aa3812101144d57"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">7.4 Main customers</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2025, the Company has 1 (one) customer responsible for 11.05% of the net sales of pulp operating segment and 1 (one) customer responsible for 12.45% of the net sales of the paper operating segment. As of December 31, 2024 the Company did not have any customer responsible for more than 10.00% or more of the net sales of pulp operating segment or paper operating segment. As of December 31, 2023 the Company had 1 (one) customer responsible for 10.27% of the net sales of pulp operating segment and no main customer for 10.00% or more of the paper operating segment.</span></div> <div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Domestic customers</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Third parties</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,918,437</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,989,455</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Related parties (Note 11.1) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">68,209</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">83,343</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign customers</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Third parties</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,705,509</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,090,160</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Related parties (Note 11.1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">202</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Expected credit losses (ECL)</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(131,548)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(30,300)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,560,607</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,132,860</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The balance refers to transactions with Ibema Companhia Brasileira de Papel.</span></div> 1918437000 1989455000 68209000 83343000 4705509000 7090160000 202000 -131548000 -30300000 6560607000 9132860000 6616450000 6821539000 <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current</span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,794,713</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,216,570</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Overdue</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Up to 30 days</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">465,967</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">682,142</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">From 31 to 60 days</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">89,398</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">134,674</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">From 61 to 90 days</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">44,305</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">38,187</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">From 91 to 120 days</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">21,225</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,701</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">From 121 to 180 days</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">45,072</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,402</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">From 181 days</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99,927</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">31,184</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,560,607</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,132,860</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 5794713000 8216570000 465967000 682142000 89398000 134674000 44305000 38187000 21225000 17701000 45072000 12402000 99927000 31184000 6560607000 9132860000 <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%"> Opening balance</span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(30,300)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(31,962)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(Provisions)/Reversals, net</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(119,417)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,585)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Write-offs</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">16,937</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,790</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Exchange rate variations </span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,232</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,543)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%"> Closing balance</span></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(131,548)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(30,300)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 30300000 31962000 -119417000 -2585000 16937000 5790000 -1232000 1543000 131548000 30300000 0.1105 0.1245 0.1027 <div style="margin-bottom:11pt"><span id="i30d5fe1d028c48b696ef15ff3b19aabe"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">8 INVENTORIES</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Finished goods</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pulp</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Domestic</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">644,881</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">801,623</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,713,394</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,510,985</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Paper</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Domestic</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">587,216</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">561,409</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">507,999</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">362,027</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Work in process</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">113,212</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">135,380</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Raw materials</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Wood</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,267,720</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,287,406</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating supplies and packaging</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,037,696</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,098,894</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Spare parts and other</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,491,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,302,534</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Estimated losses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(208,091)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(97,934)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:15.4pt;padding-right:0.85pt;text-indent:-14.55pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,155,847</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,962,324</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i5b4c17b56b6943e5be9d22ace3062454"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">8.1 Roll-forward of estimated losses</span></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(97,934)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(95,053)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Additions</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(150,133)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(83,705)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Reversals</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,498</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,352</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Write-offs</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">31,478</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">74,472</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(208,091)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(97,934)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025 and 2024, there were no inventory items pledged as collateral.</span></div> <div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Finished goods</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pulp</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Domestic</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">644,881</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">801,623</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,713,394</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,510,985</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Paper</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Domestic</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">587,216</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">561,409</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">507,999</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">362,027</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Work in process</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">113,212</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">135,380</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Raw materials</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Wood</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,267,720</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,287,406</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating supplies and packaging</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,037,696</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,098,894</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Spare parts and other</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,491,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,302,534</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Estimated losses</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(208,091)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(97,934)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:15.4pt;padding-right:0.85pt;text-indent:-14.55pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,155,847</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,962,324</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 644881000 801623000 1713394000 1510985000 587216000 561409000 507999000 362027000 113212000 135380000 2267720000 2287406000 1037696000 1098894000 1491820000 1302534000 -208091000 -97934000 8155847000 7962324000 <div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(97,934)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(95,053)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Additions</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(150,133)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(83,705)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Reversals</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,498</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,352</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Write-offs</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">31,478</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">74,472</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(208,091)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(97,934)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 97934000 95053000 150133000 83705000 8498000 6352000 31478000 74472000 208091000 97934000 <div style="margin-bottom:11pt"><span id="i63c2820e73d64208859f826b7b15b350"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">9 RECOVERABLE TAXES</span></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">IRPJ/CSLL – prepayments and withheld taxes</span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">706,048</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">227,464</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">PIS/COFINS – on acquisitions of property, plant and equipment </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">128,631</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">187,126</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">PIS/COFINS – operations</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">567,872</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">789,667</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">PIS/COFINS – exclusions from ICMS </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">324,819</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">405,407</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">ICMS – on acquisitions of property, plant and equipment </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">472,382</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">471,825</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">ICMS – operations </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,889,151</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,654,162</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Reintegra program </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(5)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">58,790</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">70,610</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other taxes and contributions</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">119,406</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">64,444</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Provision for loss on ICMS credits </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(6)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,775,113)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,581,961)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,491,986</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,288,744</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,546,287</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,109,619</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">945,699</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,179,125</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Social Integration Program (“PIS”) and Social Security Funding Contribution (“COFINS”): Credits whose realization is based on the years of depreciation of the corresponding asset.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The Company and its subsidiaries filed lawsuits over the years seeking the exclusion of ICMS from the PIS and COFINS contribution tax basis, in relation to certain transactions during various periods from March 1992. </span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Tax on Sales and Services (“ICMS”): Credits from the acquisition of property, plant and equipment are recovered on a straight-line basis over a four-year period, from the acquisition date, in accordance with the relevant regulation, the ICMS Control on Property, Plant and Equipment (“CIAP”).</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">ICMS credits accrued due to the volume of exports and credit generated from product import transactions: Credits are concentrated in the States of Espírito Santo, Maranhão, Mato Grosso do Sul e São Paulo, where the Company realizes the credits through the sale of credits to third parties, after approval from the State Ministry of Finance of each State. Credits are also being realized through the consumption of paper and consumer goods (tissue) transactions in the domestic market.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(5)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Special Regime of Tax Refunds for Export Companies ("Reintegra"): Reintegra is a program that aims to refund the residual costs of taxes paid throughout the export chain to taxpayers, to make them more competitive in foreign markets.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(6)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Related to provisions for ICMS credit balances that are not probable to be recovered.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iaead5ad6797f4e16802c68aa98583406"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">9.1 Provision for loss on ICMS credits</span></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">ICMS</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,581,961)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,452,435)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Addition</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(374,166)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(316,741)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Reversal </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">181,014</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">186,014</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Write-off</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,201</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,775,113)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,581,961)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Refers mainly to the reversal of the provision for loss resulting from the recovery of ICMS credits from the State of Espírito Santo through sale to third parties.</span></div> <div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.623%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">IRPJ/CSLL – prepayments and withheld taxes</span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">706,048</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">227,464</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">PIS/COFINS – on acquisitions of property, plant and equipment </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">128,631</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">187,126</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">PIS/COFINS – operations</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">567,872</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">789,667</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">PIS/COFINS – exclusions from ICMS </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">324,819</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">405,407</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">ICMS – on acquisitions of property, plant and equipment </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">472,382</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">471,825</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">ICMS – operations </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(4)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,889,151</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,654,162</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Reintegra program </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(5)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">58,790</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">70,610</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other taxes and contributions</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">119,406</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">64,444</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Provision for loss on ICMS credits </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(6)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,775,113)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,581,961)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,491,986</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,288,744</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current </span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,546,287</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,109,619</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current </span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">945,699</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,179,125</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Social Integration Program (“PIS”) and Social Security Funding Contribution (“COFINS”): Credits whose realization is based on the years of depreciation of the corresponding asset.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The Company and its subsidiaries filed lawsuits over the years seeking the exclusion of ICMS from the PIS and COFINS contribution tax basis, in relation to certain transactions during various periods from March 1992. </span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Tax on Sales and Services (“ICMS”): Credits from the acquisition of property, plant and equipment are recovered on a straight-line basis over a four-year period, from the acquisition date, in accordance with the relevant regulation, the ICMS Control on Property, Plant and Equipment (“CIAP”).</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">ICMS credits accrued due to the volume of exports and credit generated from product import transactions: Credits are concentrated in the States of Espírito Santo, Maranhão, Mato Grosso do Sul e São Paulo, where the Company realizes the credits through the sale of credits to third parties, after approval from the State Ministry of Finance of each State. Credits are also being realized through the consumption of paper and consumer goods (tissue) transactions in the domestic market.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(5)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Special Regime of Tax Refunds for Export Companies ("Reintegra"): Reintegra is a program that aims to refund the residual costs of taxes paid throughout the export chain to taxpayers, to make them more competitive in foreign markets.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(6)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Related to provisions for ICMS credit balances that are not probable to be recovered.</span></div> 706048000 227464000 128631000 187126000 567872000 789667000 324819000 405407000 472382000 471825000 1889151000 1654162000 58790000 70610000 119406000 64444000 1775113000 1581961000 2491986000 2288744000 1546287000 1109619000 945699000 1179125000 <div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">ICMS</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,581,961)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,452,435)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Addition</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(374,166)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(316,741)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Reversal </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">181,014</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">186,014</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Write-off</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,201</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,775,113)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,581,961)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Refers mainly to the reversal of the provision for loss resulting from the recovery of ICMS credits from the State of Espírito Santo through sale to third parties.</span></div> 1581961000 1452435000 -374166000 -316741000 181014000 186014000 1201000 1775113000 1581961000 <div style="margin-bottom:11pt"><span id="id0575c95ec6443fba69b88f0c42812d4"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">10 ADVANCES TO SUPPLIERS</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Forestry development program</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,788,262</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,503,537</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Advance to suppliers - others</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">76,818</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">92,133</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,865,080</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,595,670</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">76,818</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">92,133</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,788,262</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,503,537</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The forestry development program consists of an incentive partnership for regional forest production, where independent producers plant eucalyptus on their own land to supply agricultural wood products to the Company. Suzano provides eucalyptus seedlings, input subsidies and cash advances, and the latter are not subject to valuation at their present value since they will be settled in volume standing or cut wood. In addition, the Company supports producers by providing technical advice on forest management but does not have joint control over decisions effectively implemented. At the end of the production cycles, the Company has a contractually guaranteed right to make an offer to purchase the forest and/or wood at its market value. However, this right does not prevent producers from negotiating the sale of the forest and/or wood with other market participants, provided the incentive amounts are fully paid.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Forestry development program</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,788,262</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,503,537</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Advance to suppliers - others</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">76,818</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">92,133</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,865,080</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,595,670</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">76,818</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">92,133</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,788,262</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,503,537</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 2788262000 2503537000 76818000 92133000 2865080000 2595670000 76818000 92133000 2788262000 2503537000 <div style="margin-bottom:11pt"><span id="if55f9fb0d8a94f99b620e6492bb06eca"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">11 RELATED PARTIES</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's commercial and financial transactions with the controlling shareholder and Companies owned by the controlling shareholder Suzano Holding S.A. ("Suzano Group") were carried out at specific prices and conditions, as well as the corporate governance practices adopted by the Company, and those recommended and/or required by the applicable legislation.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The transactions refers mainly to:</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Assets: (i) accounts receivable from the sale of pulp, paper, tissue and other products; (ii) interest on shareholder’s capital and dividends receivable; (iii) reimbursement for expenses; and (iv) social services; </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Liabilities: (i) loan agreements;(ii) reimbursement for expenses; (iii) social services; (iv) real estate consulting; and (v) interest on shareholder’s capital and dividends payable.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Amounts in the statements of income: (i) sale of pulp, paper, tissue and other products; (ii) loan charges and exchange variation; (iii) social services and (viii) real estate consulting.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the year ended December 31, 2025, there were no material changes in the terms of the agreements, deals and transactions entered into, nor were there any new contracts, agreements or transactions of any different nature entered into between the Company and its related parties.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i0ca342c5586d4ff2a945ff4bef139041"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">11.1 Balances recognized in assets and liabilities and amounts of transactions during the year</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.027%"><tr><td style="width:1.0%"></td><td style="width:40.695%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.333%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.333%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.333%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.577%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.333%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.333%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.336%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Sales (purchases), net</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Transactions with majority shareholders</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Suzano Holding S.A. </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(412,146)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(630,387)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(310)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">66</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Controller </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(219,817)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(336,205)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Management and related persons </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(36,053)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(55,627)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Alden Fundo de Investimento em Ações </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(30,444)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(52,764)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(698,460)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,074,983)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(310)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">66</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Transactions with companies of the Suzano Group and other related parties</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Management</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">914</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">61</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,399</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">538</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(906)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Bexma Participações Ltda.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">21</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Bizma Investimentos Ltda.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Naman Capital Ltda.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Civelec Participações Ltda.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,895</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,860</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,825</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Fundação Arymax</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Ibema Companhia Brasileira de Papel </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">68,209</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">83,343</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(658)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,413)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">189,280</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">211,482</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">168,621</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Instituto Ecofuturo - Futuro para o Desenvolvimento Sustentável</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">21</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,961)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(5,173)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(5,549)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">IPLF Holding S.A.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">10</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Mabex Representações e Participações Ltda.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(16)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(23)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,165)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(915)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(817)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Nemonorte Imóveis e Participações Ltda.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(7)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(186)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(177)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(178)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Woodspin Oy</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">203</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">625</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">854</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">72,031</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">87,489</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(681)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,436)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">185,038</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">206,640</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">166,020</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">72,031</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">87,493</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(699,141)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,076,419)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">184,728</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">206,706</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">166,029</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Trade accounts receivable (Note 7)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">68,209</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">83,545</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Other assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,822</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,948</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Trade accounts payable (Note 17)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(681)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,457)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Dividends and Interest on own capital payable </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(698,460)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,074,962)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">72,031</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">87,493</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(699,141)</span></div></td><td style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,076,419)</span></div></td><td style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:8.52pt">Refers to dividends and interest on own capital payable.</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:8.52pt">Refers mainly to the sale of pulp.</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3)</span><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:8.52pt">The amount R$698,460 of refers to interest on own capital payable to the controlling shareholders and the amount of R$694,661 refers to other non-controlling shareholders, totaling R$1,393,121.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ifbc9a06d38114865ab78e1ffc987d317"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">11.2 Management compensation</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Expenses related to the compensation of key management personnel, which include the Board of Directors, Fiscal Council and Board of Statutory Executive Officers, recognized in the statement of income for the year, are set out below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.123%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Short-term benefits</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Salary or compensation</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">40,480</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">48,469</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">49,165</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Direct and indirect benefits</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,331</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,896</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,286</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Bonus</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">23,901</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14,881</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,829</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">65,712</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">65,246</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">62,280</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Long-term benefits</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Share-based compensation plan</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">92,114</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99,051</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">42,130</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">92,114</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99,051</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">42,130</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">157,826</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">164,297</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">104,410</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Short-term benefits include fixed compensation (salaries and fees, vacation pay, mandatory bonus and “13th month’s salary” bonus), payroll charges (Company’s share of contributions to social security – “INSS”) and variable compensation such as profit sharing, bonuses and benefits (company car, health plan, meal voucher, market voucher, life insurance and private pension plan).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Long-term benefits include phantom shares, performance shares, and share appreciation rights (SAR) for executives and key members of Management, in accordance with specific regulations, as disclosed in Note 22.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.027%"><tr><td style="width:1.0%"></td><td style="width:40.695%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.333%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.333%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.333%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.577%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.333%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.333%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.361%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.336%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Assets</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Liabilities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Sales (purchases), net</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Transactions with majority shareholders</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Suzano Holding S.A. </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(412,146)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(630,387)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(310)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">66</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Controller </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(219,817)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(336,205)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Management and related persons </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(36,053)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(55,627)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Alden Fundo de Investimento em Ações </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(30,444)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(52,764)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(698,460)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,074,983)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(310)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">66</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #6d6d6d;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #6d6d6d;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Transactions with companies of the Suzano Group and other related parties</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Management</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">914</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">61</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,399</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">538</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(906)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Bexma Participações Ltda.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">21</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Bizma Investimentos Ltda.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Naman Capital Ltda.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Civelec Participações Ltda.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,895</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,860</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,825</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Fundação Arymax</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Ibema Companhia Brasileira de Papel </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">68,209</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">83,343</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(658)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,413)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">189,280</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">211,482</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">168,621</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Instituto Ecofuturo - Futuro para o Desenvolvimento Sustentável</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">21</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,961)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(5,173)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(5,549)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">IPLF Holding S.A.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">10</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Mabex Representações e Participações Ltda.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(16)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(23)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,165)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(915)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(817)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Nemonorte Imóveis e Participações Ltda.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(7)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(186)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(177)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(178)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Woodspin Oy</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">203</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">625</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">854</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">72,031</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">87,489</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(681)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,436)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">185,038</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">206,640</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">166,020</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">72,031</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">87,493</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(699,141)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,076,419)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">184,728</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">206,706</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">166,029</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Trade accounts receivable (Note 7)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">68,209</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">83,545</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Other assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,822</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,948</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Liabilities</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Trade accounts payable (Note 17)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(681)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,457)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Dividends and Interest on own capital payable </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(698,460)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,074,962)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">72,031</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">87,493</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(699,141)</span></div></td><td style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ececec;padding:0 1pt"></td><td colspan="2" style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,076,419)</span></div></td><td style="background-color:#ececec;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:8.52pt">Refers to dividends and interest on own capital payable.</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:8.52pt">Refers mainly to the sale of pulp.</span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3)</span><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:8.52pt">The amount R$698,460 of refers to interest on own capital payable to the controlling shareholders and the amount of R$694,661 refers to other non-controlling shareholders, totaling R$1,393,121.</span></div> 4000 -412146000 -630387000 -310000 66000 9000 -219817000 -336205000 -36053000 -55627000 -30444000 -52764000 4000 -698460000 -1074983000 -310000 66000 9000 914000 61000 1399000 538000 -906000 6000 21000 7000 9000 7000 7000 9000 2895000 3860000 4825000 5000 13000 5000 3000 68209000 83343000 -658000 -1413000 189280000 211482000 168621000 2000 21000 -4961000 -5173000 -5549000 1000 5000 10000 5000 -16000 -23000 -1165000 -915000 -817000 -7000 -186000 -177000 -178000 203000 625000 854000 72031000 87489000 -681000 -1436000 185038000 206640000 166020000 72031000 87493000 -699141000 -1076419000 184728000 206706000 166029000 68209000 83545000 3822000 3948000 -681000 -1457000 -698460000 -1074962000 72031000 87493000 -699141000 -1076419000 698460000 694661000 1393121000 <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.123%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Short-term benefits</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Salary or compensation</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">40,480</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">48,469</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">49,165</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Direct and indirect benefits</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,331</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,896</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,286</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Bonus</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">23,901</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14,881</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,829</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">65,712</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">65,246</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">62,280</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Long-term benefits</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Share-based compensation plan</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">92,114</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99,051</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">42,130</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">92,114</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99,051</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">42,130</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">157,826</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">164,297</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">104,410</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 40480000 48469000 49165000 1331000 1896000 2286000 23901000 14881000 10829000 65712000 65246000 62280000 92114000 99051000 42130000 92114000 99051000 42130000 157826000 164297000 104410000 <div style="margin-bottom:11pt"><span id="i9bd6c1661d8c4b7aae756d9ec8fa2c96"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">12 INCOME AND SOCIAL CONTRIBUTION TAXES</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company management believes in the validity of the provisions of international treaties entered by Brazil to avoid double taxation. In order to ensure its right to non-double taxation, the Company filed a lawsuit in April 2019, which aims to exempt the double taxation in Brazil, of profits earned by its subsidiary located in Austria, according to Law No. 12,973/14. Due to the preliminary injunction granted in favor of the Company in the aforementioned lawsuit, the Company decided not to add the profit from Suzano International Trading GmbH, located in Austria, when determining its taxable income and social contribution basis of the net profit of the Company for the year ended December 31, 2025. There is no provision for tax related to the non-double taxation profits of such subsidiary in 2025. Disclosures about uncertain tax positions for income tax and social contribution (IFRIC 23) are presented in Note 20.2.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i0b06a9adb3fb4f519b636b58f455025f"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">12.1 Deferred taxes</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i0e5cf62b909c48b785390d2ddf9df03c"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">12.1.1 Deferred income and social contribution taxes</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tax loss carried forward</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">982,480</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">796,831</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Negative tax basis of social contribution carried forward</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">381,600</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">307,143</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets - temporary differences</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Provision for judicial liabilities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">269,757</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">324,873</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating provisions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">559,288</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">515,779</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Provisions for other losses</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">619,567</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">547,242</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Employee benefit plans</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">251,990</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">245,331</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Exchange rate variations </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,443,822</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,385,034</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivatives losses (“MtM”)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,230,835</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amortization of fair value adjustments arising from business combinations</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">620,973</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">625,745</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Unrealized profit on inventories</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">237,740</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">539,157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Leases </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">541,431</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">606,944</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,908,648</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14,124,914</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%"> Liabilities - temporary differences</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Goodwill - tax benefit on unamortized goodwill</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,878,119</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,589,887</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Property, plant and equipment - deemed cost</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">985,901</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,066,883</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Depreciation for tax-incentive reason </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">668,603</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">733,640</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Capitalized loan costs</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">937,829</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">947,482</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value of biological assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,425,535</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,317,095</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Deferred taxes, net of fair value adjustments </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">313,464</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">342,141</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Tax credits - gains from tax lawsuit (exclusion of ICMS from the PIS and COFINS basis)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">115,003</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">137,928</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivatives gains (“MtM”) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">66,308</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other temporary differences</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,872</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,404,634</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,153,495</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current assets</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,504,014</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,984,015</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current liabilities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,596</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:25.15pt">The Company pre</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">sents a net balance of derivatives and leases, as gains and losses from deferred taxes are offset simultaneously. For the derivatives line, the passive temporary difference was R$3,065,768 and asset temporary difference of R$3,001,133 (passive temporary difference was R$1,321,614 and asset temporary difference of R$3,552,449 as of December 31, 2024). For the lease line, the passive temporary difference was R$1,767,605 and asset temporary difference was R$2,309,036 (passive temporary difference was R$1,763,847 and asset temporary difference was R$2,370,791 as of </span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">December 31, 2024).</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:7.15pt">Tax depreciation is taken as a benefit only in the income tax calculation bases.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i9676b940902740ff8b818153247bb044"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">12.1.2 Breakdown of accumulated tax losses and social contribution tax losses carried forward</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tax loss carried forward</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,929,920</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,187,324</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Negative tax basis of social contribution carried forward</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,240,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,412,700</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ic9dd5bfdbe7d45c2aaf2f8978d7872e5"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">12.1.3 Roll-forward of deferred tax assets</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,971,419</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">533,836</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Tax loss carried forward</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">185,649</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(413,137)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Negative tax basis of social contribution carried forward</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">74,457</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(149,887)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Provision for judicial liabilities</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(55,116)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">715</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating provisions and other losses</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">122,493</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">93,545</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Exchange rate variation </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,941,212)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,000,881</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative (gains) losses (“MtM”)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,297,143)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,908,925</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amortization of fair value adjustments arising from business combinations </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">23,905</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">193</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Unrealized profit on inventories</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(301,417)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">387,579</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Leases</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(65,513)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">250,834</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Goodwill - tax benefit on unamortized goodwill</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(288,232)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(288,233)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Property, plant and equipment - deemed cost</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">80,982</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">70,600</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Depreciation accelerated for tax-incentive reason </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">65,037</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">66,217</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Capitalized loan costs</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,653</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(307,419)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value of biological assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(108,440)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(201,663)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Credits on exclusion of ICMS from the PIS/COFINS tax base</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,925</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,763</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other temporary differences</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,567</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,670</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,504,014</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,971,419</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i1334163f7cb44344a0886aa7e2c1b8d2"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">12.2 Reconciliation of the effects of income tax and social contribution on profit or loss</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:54.136%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.247%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.247%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.251%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net income (loss) before taxes</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20,411,174</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(13,111,053)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,997,216</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Income tax and social contribution benefit (expense) at statutory nominal rate of 34%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,939,799)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,457,758</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,119,053)</span></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Tax effect on permanent differences</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Impact of the taxation difference on profit of associates in Brazil and abroad </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(323,634)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">484,717</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,688,656</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Equity method</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(32,580)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,707)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,589)</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Thin capitalization</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(46,796)</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Interest on own capital</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">850,000</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">510,000</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Credit related to Reintegra Program</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,449</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,896</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,176</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Director bonuses</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(26,950)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(9,587)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,907)</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Tax incentives (Note 12.3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">289,309</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">336,541</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">128,650</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other (additions)/exclusions permanent</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">48,718</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(60,271)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(47,972)</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,973,487)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,066,347</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,890,835)</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Income tax</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(409,896)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(999,421)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(352,577)</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Deferred</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,733,439)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,482,647</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,561,991)</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,143,335)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,483,226</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,914,568)</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Social Contribution</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(108,483)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(366,178)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(42,815)</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Deferred</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,721,669)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,949,299</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(933,452)</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,830,152)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,583,121</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(976,267)</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Income and social contribution benefits (expenses) on the period</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,973,487)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,066,347</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,890,835)</span></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify;text-indent:-14.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:3.35pt">The difference in the taxation of subsidiaries is substantially due to the differences between the nominal tax rates in Brazil and those of subsidiaries located abroad.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ic1004010df2b4b0a842c7491ef32fa8a"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">12.3 Tax incentives</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company benefits from a tax incentive for partial reduction of the income tax obtained from operations carried out in areas under the jurisdiction of the Northeast Development Superintendence (“SUDENE”) and the Superintendence of Amazon Development (“SUDAM”). The IRPJ reduction incentive is calculated based on the activity profits (exploitation profits) and considers the allocation of the operating profit based on the incentive production levels for each product.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Area/Regions</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Company</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Maturity</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Northeast Development Superintendence (“SUDENE”)</span></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Aracruz (ES)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:27pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Portocel</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2030</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Aracruz (ES)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:27pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Suzano</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2031</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Imperatriz (MA)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:27pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Suzano</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2032</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Mucuri (BA)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:27pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Suzano</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2032</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">São Luís (MA)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:27pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Itacel</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2033</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Eunápolis (BA)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Veracel</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2033</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Superintendence of Amazon Development (“SUDAM”)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Belém (PA)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:27pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Suzano</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2034</span></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iaea04a382f384eb28201173dc69c568d"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">12.4 OECD PILLAR TWO MODEL RULES</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2021, the Organisation for Economic Co-operation and Development (“OECD”) announced the guidelines for the Pillar Two model, aiming for a reform in international corporate taxation to ensure that multinational economic groups, covered by such regulations, contribute an effective minimum tax at a rate of 15% on profits. Each country's effective profit tax rate, as calculated by this model, is called the GloBE (Global Anti-Base Erosion Rules) effective tax rate. These rules await approval in the local legislation of each country. In the context of Suzano, compliance with OECD guidelines on international taxation is a strategic priority.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Many countries have already released legislation or plans on the adoption of Pillar Two rules and the calculation of GloBE revenue, considering the global minimum rate of 15% for multinationals with consolidated revenue above EUR750 million.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since 2024, the Company has been subject to these new rules in certain European jurisdictions where it operates, with Austria standing out as a relevant operation.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of 2025, the Company is subject to the Additional Social Contribution on Net Income (CSLL), which is the Brazilian legislation's response to the GloBE rules and affects business groups with an IRPJ and CSLL tax burden of less than 15% in Brazil.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Based on the calculations performed under the GloBE Simplifying Transition Rules (RSGT), there is no impact on the financial statements in relation to this matter.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company reaffirms its commitment to tax compliance and will continue to carry out the necessary actions to ensure the proper implementation of the new rule in the jurisdictions where it operates, in line with global best practices and current legislation.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tax loss carried forward</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">982,480</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">796,831</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Negative tax basis of social contribution carried forward</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">381,600</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">307,143</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Assets - temporary differences</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Provision for judicial liabilities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">269,757</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">324,873</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating provisions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">559,288</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">515,779</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Provisions for other losses</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">619,567</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">547,242</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Employee benefit plans</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">251,990</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">245,331</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Exchange rate variations </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,443,822</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,385,034</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivatives losses (“MtM”)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,230,835</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amortization of fair value adjustments arising from business combinations</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">620,973</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">625,745</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Unrealized profit on inventories</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">237,740</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">539,157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Leases </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">541,431</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">606,944</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,908,648</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14,124,914</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%"> Liabilities - temporary differences</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Goodwill - tax benefit on unamortized goodwill</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,878,119</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,589,887</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Property, plant and equipment - deemed cost</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">985,901</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,066,883</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Depreciation for tax-incentive reason </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">668,603</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">733,640</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Capitalized loan costs</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">937,829</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">947,482</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value of biological assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,425,535</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,317,095</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Deferred taxes, net of fair value adjustments </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">313,464</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">342,141</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Tax credits - gains from tax lawsuit (exclusion of ICMS from the PIS and COFINS basis)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">115,003</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">137,928</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivatives gains (“MtM”) </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">66,308</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other temporary differences</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,872</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,404,634</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,153,495</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current assets</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,504,014</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,984,015</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current liabilities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,596</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:25.15pt">The Company pre</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">sents a net balance of derivatives and leases, as gains and losses from deferred taxes are offset simultaneously. For the derivatives line, the passive temporary difference was R$3,065,768 and asset temporary difference of R$3,001,133 (passive temporary difference was R$1,321,614 and asset temporary difference of R$3,552,449 as of December 31, 2024). For the lease line, the passive temporary difference was R$1,767,605 and asset temporary difference was R$2,309,036 (passive temporary difference was R$1,763,847 and asset temporary difference was R$2,370,791 as of </span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">December 31, 2024).</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:7.15pt">Tax depreciation is taken as a benefit only in the income tax calculation bases.</span></div> 982480000 796831000 381600000 307143000 269757000 324873000 559288000 515779000 619567000 547242000 251990000 245331000 3443822000 7385034000 2230835000 620973000 625745000 237740000 539157000 541431000 606944000 7908648000 14124914000 1878119000 1589887000 985901000 1066883000 668603000 733640000 937829000 947482000 1425535000 1317095000 313464000 342141000 115003000 137928000 66308000 13872000 18439000 6404634000 6153495000 1504014000 7984015000 12596000 3065768000 3001133000 1321614 3552449 1767605000 2309036000 1763847 2370791 <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tax loss carried forward</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,929,920</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,187,324</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Negative tax basis of social contribution carried forward</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,240,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,412,700</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 3929920000 3187324000 4240000000 3412700000 <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,971,419</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">533,836</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Tax loss carried forward</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">185,649</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(413,137)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Negative tax basis of social contribution carried forward</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">74,457</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(149,887)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Provision for judicial liabilities</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(55,116)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">715</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Operating provisions and other losses</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">122,493</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">93,545</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Exchange rate variation </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,941,212)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,000,881</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Derivative (gains) losses (“MtM”)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,297,143)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,908,925</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amortization of fair value adjustments arising from business combinations </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">23,905</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">193</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Unrealized profit on inventories</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(301,417)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">387,579</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Leases</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(65,513)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">250,834</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Goodwill - tax benefit on unamortized goodwill</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(288,232)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(288,233)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Property, plant and equipment - deemed cost</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">80,982</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">70,600</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Depreciation accelerated for tax-incentive reason </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">65,037</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">66,217</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Capitalized loan costs</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,653</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(307,419)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair value of biological assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(108,440)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(201,663)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Credits on exclusion of ICMS from the PIS/COFINS tax base</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,925</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,763</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other temporary differences</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,567</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,670</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,504,014</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,971,419</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 7971419000 533836000 185649000 -413137000 74457000 -149887000 -55116000 715000 122493000 93545000 -3941212000 5000881000 -2297143000 2908925000 23905000 193000 -301417000 387579000 -65513000 250834000 -288232000 -288233000 80982000 70600000 65037000 66217000 9653000 -307419000 -108440000 -201663000 22925000 12763000 4567000 5670000 1504014000 7971419000 <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:54.136%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.247%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.247%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.251%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net income (loss) before taxes</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20,411,174</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(13,111,053)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,997,216</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Income tax and social contribution benefit (expense) at statutory nominal rate of 34%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,939,799)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,457,758</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,119,053)</span></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Tax effect on permanent differences</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Impact of the taxation difference on profit of associates in Brazil and abroad </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(323,634)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">484,717</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,688,656</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Equity method</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(32,580)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,707)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,589)</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Thin capitalization</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(46,796)</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Interest on own capital</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">850,000</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">510,000</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Credit related to Reintegra Program</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,449</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,896</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,176</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Director bonuses</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(26,950)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(9,587)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,907)</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Tax incentives (Note 12.3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">289,309</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">336,541</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">128,650</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other (additions)/exclusions permanent</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">48,718</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(60,271)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(47,972)</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,973,487)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,066,347</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,890,835)</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Income tax</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(409,896)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(999,421)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(352,577)</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Deferred</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,733,439)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,482,647</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,561,991)</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,143,335)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,483,226</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,914,568)</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Social Contribution</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(108,483)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(366,178)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(42,815)</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Deferred</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,721,669)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,949,299</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(933,452)</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,830,152)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,583,121</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(976,267)</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Income and social contribution benefits (expenses) on the period</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,973,487)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,066,347</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,890,835)</span></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:justify;text-indent:-14.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:3.35pt">The difference in the taxation of subsidiaries is substantially due to the differences between the nominal tax rates in Brazil and those of subsidiaries located abroad.</span></div> 20411174000 -13111053000 17997216000 -6939799000 4457758000 -6119053000 -323634000 484717000 1688656000 -32580000 -4707000 -6589000 46796000 850000000 510000000 11449000 11896000 7176000 26950000 9587000 4907000 289309000 336541000 128650000 48718000 -60271000 -47972000 -6973487000 6066347000 -3890835000 -409896000 -999421000 -352577000 -4733439000 5482647000 -2561991000 -5143335000 4483226000 -2914568000 -108483000 -366178000 -42815000 -1721669000 1949299000 -933452000 -1830152000 1583121000 -976267000 -6973487000 6066347000 -3890835000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company benefits from a tax incentive for partial reduction of the income tax obtained from operations carried out in areas under the jurisdiction of the Northeast Development Superintendence (“SUDENE”) and the Superintendence of Amazon Development (“SUDAM”). The IRPJ reduction incentive is calculated based on the activity profits (exploitation profits) and considers the allocation of the operating profit based on the incentive production levels for each product.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Area/Regions</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Company</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Maturity</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Northeast Development Superintendence (“SUDENE”)</span></div></td><td colspan="3" style="padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Aracruz (ES)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:27pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Portocel</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2030</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Aracruz (ES)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:27pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Suzano</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2031</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Imperatriz (MA)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:27pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Suzano</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2032</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Mucuri (BA)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:27pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Suzano</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2032</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">São Luís (MA)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:27pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Itacel</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2033</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Eunápolis (BA)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Veracel</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2033</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Superintendence of Amazon Development (“SUDAM”)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right;text-indent:9pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Belém (PA)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:27pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Suzano</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2034</span></div></td></tr></table></div> <div style="margin-bottom:11pt"><span id="ic703ce03038d4e5986b899576c45295f"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">13 BIOLOGICAL ASSETS</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The roll-forward of biological assets is as set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,283,001</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,278,582</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Additions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,913,483</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,180,450</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Additions of merged companies</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">366,785</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depletions </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,352,271)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,831,916)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Transfers</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,233</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">102,790</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gain on fair value adjustments (Note 29)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,516,458</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,431,530</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Disposals</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(107,815)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(130,922)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Write-offs</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(170,925)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(114,298)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,097,164</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,283,001</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The calculation of fair value of the biological assets is determined using unobservable data, therefore it falls under Level 3 in the hierarchy set forth in IFRS 13 — Measurement of Fair Value.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In our model, the assumptions regarding the average annual growth rate (IMA) and average gross selling price of eucalyptus are particularly sensitive. Any increase or decrease in these assumptions could lead to significant gains or losses in the fair value measurement.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The assumptions used in the measurement of the fair value of biological assets were as follow:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Average cycle of forest formation between 6 and 7 years; </span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Effective area of forest from the 3rd year of planting;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">The IMA consists of the estimated volume of production of wood with bark in m</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">3</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> per hectare, ascertained based on the genetic material used in each region, silvicultural practices and forest management, production potential, climate factors and soil conditions;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">The estimated average standard cost per hectare includes silvicultural and forest management expenses, applied to each year of formation of the biological cycle of the forests, plus the costs of land lease agreements and the opportunity cost of owning land;</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(v)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.29pt">The average gross selling prices of eucalyptus were based on specialized research on transactions carried out by the Company with independent third parties; and</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(vi)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">The discount rate corresponds to the Weighted Average Cost of Capital (“WACC”).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below discloses the measurement of the premises adopted:</span></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.250%"><tr><td style="width:1.0%"></td><td style="width:74.657%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.377%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.444%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.377%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.445%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Useful productive planted area (hectare) eligible for fair value calculation</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,228,834</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,243,191</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Mature assets (6 to 7 years)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">173,476</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">191,737</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Immature assets (1 to 5 years)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,055,358</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,051,454</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Average annual growth (IMA) – m</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">3</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">/hectare/year</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">37.46</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">37.62</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Average gross sale price of eucalyptus – R$/m</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">3</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">111.9</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101.38</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Discount rate (post-tax)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8.10</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8.80</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="display:none"></td></tr></table><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The pricing model considers the net cash flows, after the deduction of taxes on profit at the applicable rates.</span></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:74.222%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.955%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Physical changes and discount rate </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">325,445</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">609,259</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Price of wood</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,191,013</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">822,271</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,516,458</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,431,530</span></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1) Includes the variation of indicators: IMA, discount rate and area.</span></div><div style="margin-bottom:10pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company manages the financial and climate risks related to its agricultural activities in a preventive manner. To reduce the risks arising from edaphoclimatic factors, the weather is monitored through meteorological stations and, in the event of pests and diseases, our Department of Forestry Research and Development, an area specialized in physiological and phytosanitary aspects, has procedures to diagnose and act rapidly against any occurrences and losses (Note 4.8).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has no biological assets pledged as collateral on December 31, 2025 and on December 31, 2024.</span></div> <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The roll-forward of biological assets is as set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,283,001</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">18,278,582</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Additions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,913,483</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,180,450</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Additions of merged companies</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">366,785</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depletions </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,352,271)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,831,916)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Transfers</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,233</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">102,790</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Gain on fair value adjustments (Note 29)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,516,458</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,431,530</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Disposals</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(107,815)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(130,922)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Write-offs</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(170,925)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(114,298)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,097,164</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,283,001</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 22283001000 18278582000 7913483000 7180450000 366785000 5352271000 4831916000 15233000 102790000 -1516458000 -1431530000 107815000 130922000 -170925000 -114298000 26097164000 22283001000 P6Y P7Y P3Y <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The table below discloses the measurement of the premises adopted:</span></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.250%"><tr><td style="width:1.0%"></td><td style="width:74.657%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.377%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.444%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.377%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.445%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Useful productive planted area (hectare) eligible for fair value calculation</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,228,834</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,243,191</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Mature assets (6 to 7 years)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">173,476</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">191,737</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Immature assets (1 to 5 years)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,055,358</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,051,454</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Average annual growth (IMA) – m</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">3</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">/hectare/year</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">37.46</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">37.62</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Average gross sale price of eucalyptus – R$/m</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">3</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">111.9</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101.38</span></div></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Discount rate (post-tax)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8.10</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8.80</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="display:none"></td></tr></table> 1228834000 1243191000 173476000 191737000 1055358000 1051454000 37460 37620 111900 101380 0.0810 0.0880 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The pricing model considers the net cash flows, after the deduction of taxes on profit at the applicable rates.</span></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:74.222%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.955%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Physical changes and discount rate </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">325,445</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">609,259</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Price of wood</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,191,013</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">822,271</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,516,458</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,431,530</span></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1) Includes the variation of indicators: IMA, discount rate and area.</span></div> -325445000 -609259000 -1191013000 -822271000 -1516458000 -1431530000 <div style="margin-bottom:11pt"><span id="i959838dd15c94e2ea7e643573ddb80d4"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">14 INVESTMENTS</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i3f7aedfb733844ac939b13e4d4a35057"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">14.1 Investments breakdown</span></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:66.331%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.968%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Investments in associates and joint ventures</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">264,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">453,371</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Goodwill </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">29,384</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">225,486</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other investments evaluated at fair value through other comprehensive income </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">901,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,138,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,194,877</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,816,923</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,194,877</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,816,923</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,194,877</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,816,923</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="padding-left:10.8pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1) It refers to the transaction with the associate Spinnova Plc, involving the joint venture Woodspin Oy and the subsidiary Suzano Finland Oy, as well as the transaction with the associate Ensyn Corporation, involving the joint venture F&amp;E Technologies LLC and the subsidiary F&amp;E Tecnologia do Brasil S.A. (note 14.3).</span></div><div style="padding-left:10.8pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2) It includes the fair value measurement of Lenzing Aktiengesellschaft. As of December 31, 2025, the carrying amount of the investment was R$865,986 (R$1,099,870 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i269af81cd2c0434e8cdb3d6ba86f4353"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">14.2 Investments in associates and joint ventures </span></div><div style="margin-bottom:10pt;padding-left:27pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:29.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.360%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.082%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.516%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.656%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.656%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.656%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.664%"></td><td style="width:0.1%"></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Information of investees as at</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Company Participation</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Carrying amount</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">In the income (expenses) for the year</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Income (expenses) of the year</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Participation equity (%)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Associate</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Foreign</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Ensyn Corporation </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(25,295)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(36,992)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">24.80</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,657</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(6,966)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Spinnova Plc. </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">289,950</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(217,242)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18.76</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">54,391</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">95,254</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(40,714)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(19,690)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Simplifyber, Inc. </span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">56,145</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(10,604)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14.20</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,973</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">30,060</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,506)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Allotrope Energy Ltd</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20.00</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">556</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">62,920</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">125,316</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(37,563)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(26,656)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Joint ventures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Domestic (Brazil)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Biomas - Serviços Ambientais, Restauração e Carbono Ltda.</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">23,678</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(40,506)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16.66</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,945</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,923</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(6,476)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,875)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Ibema Companhia Brasileira de Papel</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">395,675</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">32,526</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">49.90</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">197,442</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">193,901</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,230</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">37,199</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Foreign</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F&amp;E Technologies LLC </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(3,797)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,378</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,041)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Woodspin Oy </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">243,467</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">124,853</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(124,372)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(19,513)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">201,387</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">328,055</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(118,659)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12,811</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other investments evaluated at fair value through other comprehensive income</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Bem Agro Integração e Desenvolvimento S.A.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.82</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,581</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,026</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Celluforce Inc.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8.28</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">25,975</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">27,823</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Nfinite Nanotechnology Inc.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4.90</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,639</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,347</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Lenzing Aktiengesellschaft </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15.00</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">865,986</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,099,870</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">901,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,138,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Goodwill </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">29,389</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">225,486</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(224,096)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">29,389</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">225,486</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(224,096)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,194,877</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,816,923</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(380,318)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(13,845)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The average share price quoted on the Nasdaq First North Growth Market (NFNGM) was EUR0.61 on December 31, 2025 and EUR0.95 on December 31, 2024. </span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">In August 2025, the Company completed the sale of its entire equity interest in Woodspin Oy and Suzano Finland Oy to Spinnova Plc for the symbolic amount of 1 euro each. For the year ended December 31, 2025, as a result of this transaction, the following accounting effects were recognized, which significantly impacted the equity pickup line: R$ (117,447) related to the impairment of the investment, R$ (28,679) related to the obligation to make an additional capital contribution, and R$ 15,636 related to the realization of other comprehensive income of the joint venture Woodspin Oy; R$ (63,634) related to the write-off of goodwill of the associate Spinnova Plc; and R$ (88,871) related to the impairment of the investment in the subsidiary Suzano Finland Oy.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">In November 2025, the Company sold its entire equity interest in Ensyn Corporation, liquidated F&amp;E Technologies LLC, and recognized impairment of the investment in F&amp;E Tecnologia do Brasil S.A., both related to the same technology developed by Ensyn. As of December 31, 2025, as a result of this transaction, the following accounting effects were recognized, which impacted the equity pickup line: (i) R$ (160,462) related to the write-off of Ensyn goodwill; R$ 371 related to the recognition of the provision for losses on investments; and R$$9,896 related to the reclassification of other comprehensive income.</span></div> <div style="margin-bottom:10pt;padding-left:22.5pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:66.331%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.968%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Investments in associates and joint ventures</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">264,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">453,371</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Goodwill </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">29,384</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">225,486</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Other investments evaluated at fair value through other comprehensive income </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">901,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,138,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,194,877</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,816,923</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Investments</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,194,877</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,816,923</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,194,877</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,816,923</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="padding-left:10.8pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1) It refers to the transaction with the associate Spinnova Plc, involving the joint venture Woodspin Oy and the subsidiary Suzano Finland Oy, as well as the transaction with the associate Ensyn Corporation, involving the joint venture F&amp;E Technologies LLC and the subsidiary F&amp;E Tecnologia do Brasil S.A. (note 14.3).</span></div><div style="padding-left:10.8pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2) It includes the fair value measurement of Lenzing Aktiengesellschaft. As of December 31, 2025, the carrying amount of the investment was R$865,986 (R$1,099,870 as of December 31, 2024).</span></div> 264312000 453371000 29384000 225486000 901181000 1138066000 1194877000 1816923000 1194877000 1816923000 1194877000 1816923000 865986 1099870 <div style="margin-bottom:10pt;padding-left:27pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:29.172%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.360%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.082%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.516%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.656%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.656%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.656%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.664%"></td><td style="width:0.1%"></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Information of investees as at</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Company Participation</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Carrying amount</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">In the income (expenses) for the year</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Equity</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Income (expenses) of the year</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Participation equity (%)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Associate</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f2f2f2;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Foreign</span></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td><td colspan="3" style="background-color:#f2f2f2;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Ensyn Corporation </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(25,295)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(36,992)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">24.80</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,657</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(6,966)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Spinnova Plc. </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">289,950</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(217,242)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18.76</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">54,391</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">95,254</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(40,714)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(19,690)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Simplifyber, Inc. </span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">56,145</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(10,604)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14.20</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,973</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">30,060</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,506)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Allotrope Energy Ltd</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20.00</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">556</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">62,920</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">125,316</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(37,563)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(26,656)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Joint ventures</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Domestic (Brazil)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Biomas - Serviços Ambientais, Restauração e Carbono Ltda.</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">23,678</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(40,506)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16.66</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,945</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,923</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(6,476)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,875)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Ibema Companhia Brasileira de Papel</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">395,675</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">32,526</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">49.90</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">197,442</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">193,901</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,230</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">37,199</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Foreign</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">F&amp;E Technologies LLC </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(3,797)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,378</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,041)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Woodspin Oy </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">243,467</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">124,853</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(124,372)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(19,513)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">201,387</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">328,055</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(118,659)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12,811</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other investments evaluated at fair value through other comprehensive income</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Bem Agro Integração e Desenvolvimento S.A.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.82</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,581</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,026</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Celluforce Inc.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8.28</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">25,975</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">27,823</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Nfinite Nanotechnology Inc.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4.90</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,639</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,347</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Lenzing Aktiengesellschaft </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15.00</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">865,986</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,099,870</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">901,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,138,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Goodwill </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">29,389</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">225,486</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(224,096)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">29,389</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">225,486</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(224,096)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,194,877</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,816,923</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(380,318)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(13,845)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The average share price quoted on the Nasdaq First North Growth Market (NFNGM) was EUR0.61 on December 31, 2025 and EUR0.95 on December 31, 2024. </span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">In August 2025, the Company completed the sale of its entire equity interest in Woodspin Oy and Suzano Finland Oy to Spinnova Plc for the symbolic amount of 1 euro each. For the year ended December 31, 2025, as a result of this transaction, the following accounting effects were recognized, which significantly impacted the equity pickup line: R$ (117,447) related to the impairment of the investment, R$ (28,679) related to the obligation to make an additional capital contribution, and R$ 15,636 related to the realization of other comprehensive income of the joint venture Woodspin Oy; R$ (63,634) related to the write-off of goodwill of the associate Spinnova Plc; and R$ (88,871) related to the impairment of the investment in the subsidiary Suzano Finland Oy.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">In November 2025, the Company sold its entire equity interest in Ensyn Corporation, liquidated F&amp;E Technologies LLC, and recognized impairment of the investment in F&amp;E Tecnologia do Brasil S.A., both related to the same technology developed by Ensyn. As of December 31, 2025, as a result of this transaction, the following accounting effects were recognized, which impacted the equity pickup line: (i) R$ (160,462) related to the write-off of Ensyn goodwill; R$ 371 related to the recognition of the provision for losses on investments; and R$$9,896 related to the reclassification of other comprehensive income.</span></div> -25295000 -36992000 0.2480 2000 4657000 -6966000 289950000 -217242000 0.1876 54391000 95254000 -40714000 -19690000 56145000 -10604000 0.1420 7973000 30060000 -1506000 0.2000 556000 62920000 125316000 -37563000 -26656000 23678000 -40506000 0.1666 3945000 2923000 -6476000 -4875000 395675000 32526000 0.4990 197442000 193901000 16230000 37199000 -3797000 6378000 -4041000 243467000 124853000 -124372000 -19513000 201387000 328055000 -118659000 12811000 0.0582 3581000 4026000 0.0828 25975000 27823000 0.0490 5639000 6347000 0.1500 865986000 1099870000 901181000 1138066000 29389000 225486000 -224096000 29389000 225486000 -224096000 1194877000 1816923000 -380318000 -13845000 0.61 0.95 -117447000 -28679000 -15636 -63634000 -88871000 -160462000 371000 -9896000 <div style="margin-bottom:11pt"><span id="i03eb333f08b244f883227e46b3bcafff"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">15 PROPERTY, PLANT AND EQUIPMENT    </span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.472%"><tr><td style="width:1.0%"></td><td style="width:27.531%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.364%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.364%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.364%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.364%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.364%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.329%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Land</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Buildings</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Machinery, <br/>equipment and facilities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Work in progress</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Average rate % </span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3.28</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7.46</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20.69</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated cost</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14,859,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">10,032,317</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">48,456,537</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,485,109</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,491,663</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">92,324,815</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated depreciation</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,125,823)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(27,918,585)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(991,338)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(33,035,746)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balances at December 31, 2023</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14,859,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,906,494</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20,537,952</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,485,109</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">500,325</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">59,289,069</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions</span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">697</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">558</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">415,147</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,490,762</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">28,904</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,936,068</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Acquisition of subsidiaries</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,699,588</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">775</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">413</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,992</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,702,768</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(10,724)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(7,455)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(118,499)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(9,324)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(146,002)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(366,398)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(3,214,550)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(222,993)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(3,803,941)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Transfers and other</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">226,598</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,988,619</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,660,035</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(21,465,336)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">598,162</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8,078</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accumulated cost</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,775,348</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13,816,631</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">62,822,096</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,510,535</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,806,592</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">98,731,202</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated depreciation</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,294,038)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(28,541,598)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(909,526)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(33,745,162)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balances at December 31, 2024</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,775,348</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,522,593</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">34,280,498</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,510,535</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">897,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">64,986,040</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Additions</span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,080</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">262</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">649,533</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,880,270</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">45,681</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,578,826</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(64,222)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(54,566)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(152,457)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(154,907)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(426,152)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(434,875)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,123,031)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(287,270)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,845,176)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Transfers and other </span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,980</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">896,470</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,524,210</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,626,006)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">201,995</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,649</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated cost</span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,720,186</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14,589,194</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">66,353,229</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,764,799</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,830,011</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">102,257,419</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated depreciation</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,659,310)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(32,174,476)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,127,446)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(37,961,232)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balances at December 31, 2025</span></div></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,720,186</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,929,884</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">34,178,753</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,764,799</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">702,565</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">64,296,187</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Includes vehicles, furniture and utensils and computer equipment.</span></div><div style="margin-bottom:10pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, the Company evaluated the business, market and climate impacts, and did not identify any material event that indicated the need to perform an impairment test and to record any impairment provision for property, plant and equipment.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i7c636efdcdf041fe91b7cd8b5cb29215"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">15.1 Items pledged as collateral</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, property, plant and equipment items pledged as collateral, consisting mainly of the units of Ribas do Rio Pardo, Três Lagoas and Imperatriz are set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:52.128%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.568%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.381%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Type of collateral</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Land</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial/Legal</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25,562</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,427</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Buildings</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,719,004</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,755,082</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Machinery, equipment and facilities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19,437,703</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20,442,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Work in progress</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">339,063</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">427,998</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">48,475</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">43,487</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">21,569,807</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,693,183</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i7b7e20ad38214441ad3b0ae625a0f578"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">15.2 Capitalized expenses</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the year ended December 31, 2025, the Company capitalized loan costs in the amount of R$274,731 (R$959,968 as of December 31, 2024). The weighted average interest rate, adjusted by the equalization of the exchange rate effects, utilized to determine the capitalized amount was 13.35% p.a. (11.17% p.a. as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i8293aca3ed904d3f98fe05fb57d8e9a9"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">15.3 Asset Retirement Obligation (ARO)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, the Company has provisioned the amount of R$68,681 (R$65,327 as of December 31, 2024) arising asset retirement obligation of industrial landfills The corresponding liability is recorded under “Other liabilities,” segregated between current and non-current, according to the expected settlement date.</span></div> <div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.472%"><tr><td style="width:1.0%"></td><td style="width:27.531%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.364%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.364%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.364%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.364%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.364%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.329%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Land</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Buildings</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Machinery, <br/>equipment and facilities</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Work in progress</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Other </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Average rate % </span></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3.28</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7.46</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20.69</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated cost</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14,859,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">10,032,317</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">48,456,537</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,485,109</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,491,663</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">92,324,815</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated depreciation</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,125,823)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(27,918,585)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(991,338)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(33,035,746)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balances at December 31, 2023</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14,859,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,906,494</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">20,537,952</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,485,109</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">500,325</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">59,289,069</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions</span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">697</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">558</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">415,147</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,490,762</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">28,904</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,936,068</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Acquisition of subsidiaries</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,699,588</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">775</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">413</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,992</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,702,768</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(10,724)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(7,455)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(118,499)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(9,324)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(146,002)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(366,398)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(3,214,550)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(222,993)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(3,803,941)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Transfers and other</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">226,598</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,988,619</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,660,035</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(21,465,336)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">598,162</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8,078</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Accumulated cost</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,775,348</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13,816,631</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">62,822,096</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,510,535</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,806,592</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">98,731,202</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated depreciation</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,294,038)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(28,541,598)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(909,526)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(33,745,162)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balances at December 31, 2024</span></div></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,775,348</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,522,593</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">34,280,498</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,510,535</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">897,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">64,986,040</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Additions</span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,080</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">262</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">649,533</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,880,270</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">45,681</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,578,826</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(64,222)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(54,566)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(152,457)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(154,907)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(426,152)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(434,875)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,123,031)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(287,270)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,845,176)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Transfers and other </span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,980</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">896,470</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,524,210</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,626,006)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">201,995</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,649</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated cost</span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,720,186</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14,589,194</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">66,353,229</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,764,799</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,830,011</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">102,257,419</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Accumulated depreciation</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,659,310)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(32,174,476)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(1,127,446)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(37,961,232)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Balances at December 31, 2025</span></div></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,720,186</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,929,884</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">34,178,753</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,764,799</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">702,565</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">64,296,187</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Includes vehicles, furniture and utensils and computer equipment.</span></div> 0.0328 0.0746 0.2069 14859189000 10032317000 48456537000 17485109000 1491663000 92324815000 -4125823000 -27918585000 -991338000 -33035746000 14859189000 5906494000 20537952000 17485109000 500325000 59289069000 697000 558000 415147000 7490762000 28904000 7936068000 1699588000 775000 413000 1992000 1702768000 10724000 7455000 118499000 9324000 146002000 366398000 3214550000 222993000 3803941000 226598000 3988619000 16660035000 -21465336000 598162000 8078000 16775348000 13816631000 62822096000 3510535000 1806592000 98731202000 -4294038000 -28541598000 -909526000 -33745162000 16775348000 9522593000 34280498000 3510535000 897066000 64986040000 3080000 262000 649533000 3880270000 45681000 4578826000 64222000 54566000 152457000 154907000 426152000 434875000 4123031000 287270000 4845176000 5980000 896470000 3524210000 -4626006000 201995000 2649000 16720186000 14589194000 66353229000 2764799000 1830011000 102257419000 -4659310000 -32174476000 -1127446000 -37961232000 16720186000 9929884000 34178753000 2764799000 702565000 64296187000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, property, plant and equipment items pledged as collateral, consisting mainly of the units of Ribas do Rio Pardo, Três Lagoas and Imperatriz are set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:52.128%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:21.568%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.381%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Type of collateral</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Land</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial/Legal</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25,562</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,427</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Buildings</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,719,004</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,755,082</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Machinery, equipment and facilities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">19,437,703</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20,442,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Work in progress</span></div></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">339,063</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">427,998</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:10pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">48,475</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">43,487</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">21,569,807</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">22,693,183</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 25562000 24427000 1719004000 1755082000 19437703000 20442189000 339063000 427998000 48475000 43487000 21569807000 22693183000 274731000 959968000 0.1335 0.1117 68681000000 65327000000 <div style="margin-bottom:11pt"><span id="iac07a122e7e840f585963847c8855313"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">16 INTANGIBLE</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i61b49fe2ddf74d638ab5e21debf3c42e"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">16.1 Goodwill and intangible assets with indefinite useful lives</span></div><div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Goodwill - Facepa (Tissue plant in Belém/PA)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">119,332</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">119,332</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Goodwill - Fibria</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,897,051</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,897,051</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Goodwill - MMC Brasil (Tissue plant in Mogi das Cruzes/SP)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">170,859</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">170,859</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,097</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,097</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,192,339</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,192,339</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Refers to other intangible assets with indefinite useful lives such as servitude of passage and electricity.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The goodwill is based on expected future profitability supported by valuation reports, after the purchase price allocation.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill is allocated to cash-generating units as presented in Note 28.4.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the pulp cash-generating unit (“CGU”), the calculation of the value in use of non-financial assets is performed annually using the discounted cash flow method. In 2025 the Company used the strategic plan and the annual budget with projected increases to 2029 and the average rate in perpetuity of the cash generating units considering a nominal rate of 3.63% p.a. from this date, based on historical information for previous years, economic and financial projections from each specific market in which the Company has operations, and additionally include official information disclosed by independent institutions and government agencies.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The discount rate, after taxes, adopted by Management was 8.87% p.a., calculated based on the Weighted Average Cost of Capital (“WACC”). </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The assumptions in the table set forth below were also adopted:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:85.844%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.383%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net average pulp price – Foreign market (US$/t)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">634.3</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net average pulp price – Internal market (US$/t)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">681.4</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average exchange rate (R$/US$)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5.46</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Discount rate (pos-tax)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8.87% p.a.</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Discount rate (pre-tax)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12.30% p.a.</span></div></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the year ended December 31, 2025, the Company did not identify the need to record any impairment provision for intangible assets.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the Paper Cash‑Generating Unit (“CGU”), the recoverability test of assets is performed annually based on the estimated fair value less costs of disposal, determined through the application of EV/EBITDA market multiples, considering comparable companies in the same industry and the specific characteristics of the Company’s operations. Based on the analyses performed by the Company, no adjustment to reduce the carrying amounts of the assets to their recoverable amount (impairment) was identified in 2025.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If the post-tax discount rate applied to the cash flow projections of both cash-generating units had been 1% higher than management’s estimates (9.87% instead of 8.87%), the Company still would not need to recognize an impairment provision.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company assessed possible changes in price and exchange rate assumptions and did not identify any scenarios that would cause the carrying amount of the cash-generating units to exceed their recoverable amount.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i5bf78b504f7a487793051cd74dc93946"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">16.2 Intangible assets with limited useful lives</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:46.532%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.842%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,709,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,557,009</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Additions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">82,492</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">161,779</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Write-offs</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,015)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortization</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,011,088)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,008,824)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,778,353</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,709,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Represented by</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average annual rate %</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-competition agreements</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,508</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Port concessions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.94</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">621,842</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">632,253</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Supplier agreements</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12.70</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,111</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25,925</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Port service contracts</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4.26</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">491,094</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">520,459</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cultivars</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20,391</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Trademarks and patents</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8.14</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">154,846</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">170,306</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Customer portfolio</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9.10</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,283,919</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,104,900</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Software</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25.45</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">206,635</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">201,476</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10.00</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,906</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">29,746</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,778,353</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,709,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cost</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,617,166</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,540,497</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amortization</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,838,813)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,830,533)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,778,353</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,709,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, the Company evaluated the business, market and climate impacts, and did not identify any material event that indicated the need to perform an impairment test and to record any impairment provision for intangibles assets with limited useful lives.</span></div> <div style="margin-bottom:10pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Goodwill - Facepa (Tissue plant in Belém/PA)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">119,332</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">119,332</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Goodwill - Fibria</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,897,051</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,897,051</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Goodwill - MMC Brasil (Tissue plant in Mogi das Cruzes/SP)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">170,859</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">170,859</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,097</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,097</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,192,339</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,192,339</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Refers to other intangible assets with indefinite useful lives such as servitude of passage and electricity.</span></div> 119332000 119332000 7897051000 7897051000 170859000 170859000 5097000 5097000 8192339000 8192339000 0.0363 0.0887 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The assumptions in the table set forth below were also adopted:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:85.844%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.383%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net average pulp price – Foreign market (US$/t)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">634.3</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net average pulp price – Internal market (US$/t)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">681.4</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average exchange rate (R$/US$)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5.46</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Discount rate (pos-tax)</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8.87% p.a.</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Discount rate (pre-tax)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12.30% p.a.</span></div></td></tr></table></div> 634300 681400 5460 0.0887 0.1230 0.01 0.0987 0.0887 <div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:46.532%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.842%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,709,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,557,009</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Additions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">82,492</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">161,779</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Write-offs</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,015)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortization</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,011,088)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,008,824)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,778,353</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,709,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Represented by</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average annual rate %</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-competition agreements</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,508</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Port concessions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.94</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">621,842</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">632,253</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Supplier agreements</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12.70</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,111</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25,925</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Port service contracts</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4.26</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">491,094</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">520,459</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cultivars</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20,391</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Trademarks and patents</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8.14</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">154,846</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">170,306</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Customer portfolio</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9.10</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,283,919</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,104,900</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Software</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25.45</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">206,635</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">201,476</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10.00</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,906</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">29,746</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,778,353</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,709,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cost</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,617,166</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,540,497</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amortization</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,838,813)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,830,533)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,778,353</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,709,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 5709964000 6557009000 82492000 161779000 3015000 1011088000 1008824000 4778353000 5709964000 4508000 0.0394 621842000 632253000 0.1270 11111000 25925000 0.0426 491094000 520459000 20391000 0.0814 154846000 170306000 0.0910 3283919000 4104900000 0.2545 206635000 201476000 0.1000 8906000 29746000 4778353000 5709964000 12617166000 12540497000 -7838813000 -6830533000 4778353000 5709964000 <div style="margin-bottom:11pt"><span id="ifcd44da054a64e178072b0481a146c29"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">17 TRADE ACCOUNTS PAYABLE</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">In local currency</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Third party </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-align:center;text-indent:9pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,065,115</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,681,065</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Related party (Note 11.1) </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-align:center;text-indent:9pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">681</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,457</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">In foreign currency</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Third party</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-align:center;text-indent:9pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,075,590</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,350,763</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,141,386</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,033,285</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Within the balance of suppliers, there are values under supplier finance arrangement that were subject to anticipation with financial institutions at the exclusive option of certain suppliers, without changing the originally defined purchase conditions (payment terms and negotiated prices). The balance related to such operations on December 31, 2025 was R$438,830 (R$555,063 at December 31, 2024).</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The balance refers mainly to transactions with Ibema Companhia Brasileira de Papel.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ia879246de0c64ea7ada3362dfe05077d"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">17.1 Long-term commitments</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i098114e52c3242b4af637608becec3fd"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">17.1.1 Long-term commitments - Take or Pay arrangements</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company entered into long-term take-or-pay agreements with chemicals, transportation and natural gas suppliers. These agreements contain termination and supply interruption clauses in the event of defaults on certain essential obligations. Generally, the Company purchases the minimum amounts agreed under the agreements, and hence there is no liability recorded in the amount that is recognized each month. The total contractual obligations assumed on December 31, 2025 were R$25,236,794 (R$26,239,939 at December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i9dc0a946ae3544359919381b80b3e18b"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">17.1.2 Exchange and acquisition of biological assets</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In line with the Company’s strategy for forest expansion and optimization of wood supply for its operations in the State of Mato Grosso do Sul, the Company entered into exchange and purchase agreements for biological assets in August 2025. Under the terms of these agreements, the Company will receive specified volumes of biological assets between 2025 and 2027. In return, under the exchange agreement, the Company is expected to deliver equivalent volumes between 2028 and 2031.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 15, 2025, a payment of R$878,049 was made related to the exchange agreement. The remaining amounts payable total R$1,962,554, with R$819,970 due in 2026 and R$1,142,584 due in 2028, in accordance with the contractual schedule.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">In local currency</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Third party </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-align:center;text-indent:9pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,065,115</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,681,065</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Related party (Note 11.1) </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-align:center;text-indent:9pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">681</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,457</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">In foreign currency</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Third party</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-align:center;text-indent:9pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,075,590</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,350,763</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,141,386</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,033,285</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Within the balance of suppliers, there are values under supplier finance arrangement that were subject to anticipation with financial institutions at the exclusive option of certain suppliers, without changing the originally defined purchase conditions (payment terms and negotiated prices). The balance related to such operations on December 31, 2025 was R$438,830 (R$555,063 at December 31, 2024).</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The balance refers mainly to transactions with Ibema Companhia Brasileira de Papel.</span></div> 4065115000 4681065000 681000 1457000 1075590000 1350763000 5141386000 6033285000 438830000 555063000 25236794000 26239939000 878049 1962554 819970 1142584 <div style="margin-bottom:11pt"><span id="i10a9532e84e149d2998106a0a8586460"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18 LOANS, FINANCING AND DEBENTURES</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="icce7c8afd1e3465ca79012690cc1ba4b"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.1 Breakdown by type</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:26.590%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.212%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.513%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Current</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Non-current</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Type</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Currency</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Interest rate</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Average annual interest rate - %</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">In foreign currency</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Bonds</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">USD</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Fixed</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.0</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">815,478</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,229,641</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">42,405,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">49,166,804</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">43,221,442</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">52,396,445</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Panda Bonds</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CNY</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Fixed</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2.7</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,785</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,224</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,039,941</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,016,331</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,046,726</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,020,555</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Export credits (“export prepayments”)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">USD</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">SOFR/Fixed</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.1</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">923,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,236,806</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,901,305</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,283,736</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,825,125</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">22,520,542</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Assets financing</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">USD</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2.9</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">107,159</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">137,300</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">178,526</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">298,252</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">285,685</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">435,552</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">ECA - Export Credit Agency</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">USD</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.7</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,426</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,297</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,778,184</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">769,702</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,795,610</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">776,999</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">IFC - International Finance Corporation </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">USD</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.2</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(5,485)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(12,051)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,182,737</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,858,208</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,177,252</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,846,157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Others</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:center"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:center"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,516</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,210</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,455</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,516</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8,665</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,870,699</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,607,427</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">68,486,657</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">73,397,488</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">70,357,356</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">83,004,915</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">In local currency</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BNDES</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">UMBNDES</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6.6</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,794</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">468,025</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">157,555</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">473,819</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">157,712</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BNDES</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TJLP</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8.6</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">89,150</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100,556</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">11,802</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">101,587</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100,952</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">202,143</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BNDES</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TLP</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13.5</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">178,549</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">94,903</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,562,188</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,607,102</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,740,737</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,702,005</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BNDES</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">SELIC</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16.1</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">282,017</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">243,223</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">514,605</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">704,825</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">796,622</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">948,048</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BNDES</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4.0</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,933</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">84</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">153,762</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">70,015</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">163,695</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">70,099</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Assets financing</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CDI</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15.5</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18,799</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18,427</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">38,214</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">56,956</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">57,013</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">75,383</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">NCE (“Export credit notes”)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16.2</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,027</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">104,157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">103,027</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">NCR (“Rural producer certificates”)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CDI</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13.7</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">369,572</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">312,652</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,000,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,000,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,369,572</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,312,652</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">ECO INVEST - Crédito Agroindustria</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13.4</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,094</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">327,263</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">334,357</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Rural Product Note ("CPR")</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CDI/IPCA</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14.2</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">41,894</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,954,437</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,996,331</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Debentures</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CDI/IPCA</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14.1</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">127,247</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">120,931</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,179,399</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,738,616</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,306,646</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,859,547</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,134,206</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">893,960</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">23,309,695</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,536,656</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">24,443,901</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18,430,616</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,004,905</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">10,501,387</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">91,796,352</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">90,934,144</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">94,801,257</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">101,435,531</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Interest on financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,525,436</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,541,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,525,436</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,541,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Non-current funding</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,479,469</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8,960,075</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">91,796,352</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">90,934,144</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">93,275,821</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">99,894,219</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,004,905</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">10,501,387</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">91,796,352</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">90,934,144</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">94,801,257</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">101,435,531</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1) The balances shown as negative include fundraising costs</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i652ffce140bf439fa087e5405b85176b"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.2 Breakdown by maturity - non-current</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.111%"><tr><td style="width:1.0%"></td><td style="width:31.125%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.005%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2027</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2028</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2029</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2030</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2031</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2032 onwards </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">In foreign currency</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Bonds</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,738,532</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,483,763</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,432,629</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,880,029</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">17,871,011</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">42,405,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Panda Bonds </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">942,700</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,018,648</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">78,593</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,039,941</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Export credits (“export prepayments”)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,298,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,433,498</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,905,821</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,382,592</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">880,430</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,901,305</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Assets financing</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">106,899</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">65,487</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,140</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">178,526</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">ECA - Export Credit Agency </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">684,513</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,093,671</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,778,184</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IFC - International Finance Corporation </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">278,177</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,415,340</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,304,815</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,184,405</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,182,737</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,626,740</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,671,505</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,700,539</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,078,219</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,444,972</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">18,964,682</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">68,486,657</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">In local currency</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BNDES – TJLP</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">621</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,802</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BNDES – TLP</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">159,985</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">157,152</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">142,987</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">377,906</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">477,203</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,246,955</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,562,188</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BNDES – Fixed</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">417,525</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">468,025</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BNDES – SELIC</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,390</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,390</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,390</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,390</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,390</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">317,655</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">514,605</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BNDES – TR</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,068</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,068</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,068</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,068</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,068</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">98,422</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">153,762</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Ecoinvest</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">73,617</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">73,617</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">73,617</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">106,412</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">327,263</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Assets financing</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19,113</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19,033</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">68</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">38,214</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">NCE (“Export credit notes”)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">100,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">NCR (“Rural producer certificates”)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,000,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,000,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,000,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Rural Product Note ("CPR")</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,954,437</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,954,437</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debentures </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">553,536</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">500,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,125,863</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,179,399</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">268,383</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">265,470</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">305,957</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,091,238</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,111,378</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,267,269</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">23,309,695</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,895,123</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,936,975</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,006,496</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,169,457</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,556,350</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">34,231,951</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">91,796,352</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1) The balances shown as negative correspond to fundraising costs, which are amortized on a straight-line basis.                                                </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i4e19ada97b214e72866e7be94941a2fe"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.3 Roll-forward of loans, financing and debentures</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101,435,531</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">77,172,692</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Fundraising, net of issuance costs </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">23,871,760</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,692,905</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interest accrued </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,953,778</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,413,707</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Monetary and exchange rate variation, net</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(8,384,101)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,728,324</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Settlement of principal </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(22,353,325)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(9,410,807)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Settlement of interest </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,817,907)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,241,389)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortization of fundraising costs </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101,803</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">80,099</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Others (fair value adjustments to business combinations)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,282)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">94,801,257</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101,435,531</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ia74a62c561b64fa896711073cb173f05"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.4 Fundraising costs</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fundraising costs are amortized based on the terms of agreements and the effective interest rate.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:38.067%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.816%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.816%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.258%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balance to be amortized</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Type</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cost</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amortization</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Bonds</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">411,818</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">269,220</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">142,598</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">168,450</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Panda Bonds</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,183</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">566</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,617</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Rural Product Note ("CPR")</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">65,177</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,358</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">63,819</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Export credits (“export prepayments”)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">180,466</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">108,854</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">71,612</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">63,080</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Debentures</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">156,800</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">46,391</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">110,409</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">125,663</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">BNDES </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">97,685</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">56,662</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">41,023</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25,777</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">ECA - Export Credit Agency</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,615</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,543</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,072</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">IFC - International Finance Corporation</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">81,956</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,770</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">57,186</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">78,719</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Others</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,797</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">156</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,641</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,799</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,018,497</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">509,520</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">508,977</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">468,488</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i330ed5df36cd4af185f131abc0a52dac"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.5 Guarantees</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Some loan and financing agreements have guarantees clauses, in which the financed equipment or other property, plant and equipment is offered as collateral by the Company, as disclosed in Note 15.1.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company does not have contracts with restrictive financial clauses (financial covenants) which must be complied with.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i2d9c488579f8467aa7889c40bdbd5276"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.6 Relevant transactions entered into during the year</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i759c75fcfd06461bb03d2c8674129247"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.6.1 Export Prepayment</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 10, 2025, the Company raised, with several banks (a syndicated operation), an export prepayment ("PPE"), in the amount of US$1,200,000 (equivalent to R$6,951,600), at a floating rate based on the 3-month SOFR Term + 1.45% p.a, maturing in March 2031.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 24, 2025, the Company entered into a PPE with JP Morgan in the amount of US$250,000 (equivalent to R$1,418,488), at floating rate 6-month SOFR Term Loan + 1.75% p.a., maturity in April 2030.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 24, 2025, the Company also entered into a PPE with JP Morgan as a debt maturity renewal strategy, with an amount of US$151,000 (equivalent to R$856,552), with a floating rate 6-month SOFR Term Loan + 1.75% p.a., maturity in April 2030.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 3, 2025, the Company raised, with MUFG Bank, an export prepayment (“PPE”) in the amount of US$100,000 (equivalent to R$542,080), at a floating rate of 3-month Term SOFR + 1.5% p.a., maturing in July 2031.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i0ca75f761d30415f8546d876567c13c0"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.6.2 Rural Credit Note ("NCR")</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 23, 2025, the Company entered into a Rural Credit Note (“NCR”) agreement with Itaú Unibanco in the amount of R$3,000,000, indexed at a fixed rate of 13.54% p.a., maturity on January 31, 2031.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i309e6b4de41e421e9203492761ba0caa"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.6.3 Eco Invest (“Ecoinvest”)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 27, 2025, the Company, through its joint operation Veracel, entered into an agro-industrial credit agreement under the Eco Invest Brasil program with Banco do Brasil, in the amount of R$331,278, bearing interest at 101% of the CDI rate, maturity on April 5, 2030.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i378604e4599541aa8f5c7826afe3d753"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.6.4 Export Development Canada (“EDC”)</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On July 21, 2025, the Company raised a loan with EDC in the amount of US$200,000 (equivalent to R$1,112,500), at a floating rate of Daily SOFR + 1.75% p.a., maturing in July 2032.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i62fb1a4852e14a91a307de4f8be418d2"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.6.5 Rural Product Note ("CPR")</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 15, 2025, the Company issued a Rural Product Note (“CPR”) totaling R$2,000,000. The CPR is composed of three parts: (i) an amount of R$293,255 at a cost of 96.50% of the CDI rate, with a total term of eight years and full amortization in September 2033; (ii) an amount of R$956,745 at a cost of IPCA + 7.0753% p.a., with a total term of ten years and full amortization in September 2035; and (iii) an amount of R$750,000 at a cost of IPCA + 7.0968% p.a., with a total term of twelve years and full amortization in September 2037.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i03abb55ad0894f77a2cf6c77b5d2bb28"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.6.6 Bonds 2036</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 10, 2025, the Company, through its wholly owned subsidiary Suzano Netherlands B.V., issued a bond in the amount of US$1,000,000 (equivalent to R$5,412,300), at a fixed rate of 5.5% p.a., maturing in January 2036.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><span id="i3944c800e0c940a395cb287010f83914"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.6.7 Panda Bonds</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 21, 2025, the Company, through its wholly owned subsidiary Suzano International Finance B.V., issued two tranches of Panda Bonds in China. The first tranche amounted to CNY1,300,000 (equivalent to US$182,734 and R$983,986), bearing a fixed interest rate of 2.55% p.a. and maturing in October 2028. The second tranche amounted to CNY100,000 (equivalent to US$14,056 and R$75,691), bearing an interest rate of 2.90% and maturing in October 2030.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="if1c7d9a4374f4bc8baf363212e2fd7d3"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">18.7 Significant transactions settled during the year</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 14, 2025, the Company settled, as due, a bond with a 4.00% p.a cost, a market-based operation, in the amount of US$346,445 (equivalent to R$2,101,917, including principal and interest).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 10, 2025, the Company made an early partial settlement of an export prepayment with various banks (syndicated operation), totaling US$1,486,064 (equivalent to R$8,608,769, including principal and interest). The residual amount of the operation maintained its original maturity in March 2027 with a floating rate of SOFR + 1.4% p.a.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On March 24, 2025, the Company settled a Rural Producer Note (CPR) with Banco Safra, in the amount of R$221,942 (including principal and interest). The maturity of the CPR was in March 2025, with an interest rate of 100.00% of the CDI p.a.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On April 24, 2025, the Company early settled a PPE with JP Morgan, at a cost of 3-month Term SOFR + 1.93% p.a., in the total amount of US$153,869 (equivalent to R$873,023 including principal and interest).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 17, 2025, the Company settled, at maturity, an ACC with BNP Paribas, in the total amount of US$106,585 (equivalent to R$605,819 including principal and interest).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On May 21, 2025, the Company settled, at maturity, an ACC with BNP Paribas, in the total amount of US$37,123 (equivalent to R$210,942 including principal and interest).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 9, 2025, the Company settled, at maturity, an ACC with BNP Paribas, in the total amount of US$15,988 (equivalent to R$89,170 including principal and interest).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 11, 2025, through a Tender Offer, the Company early settled part of the outstanding balance of one of its bonds in the total amount of US$401,545 (equivalent to R$2,162,639 — principal and interest) as part of its debt rollover strategy. The bond’s remaining balance was settled on September 19, 2025, through a make-whole operation, in the amount of US$304,737 (equivalent to R$1,623,519 — principal and interest). The bond’s original maturity was in January 2027, with a fixed rate of 5.5% p.a.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 11, 2025, through a Tender Offer, the Company early settled part of the outstanding balance of another of its bonds in the total amount of US$233,807 (equivalent to R$1,259,239 — principal and interest) as part of its debt rollover strategy. The bond’s original maturity was in January 2026, with a fixed rate of 5.75% p.a.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On September 26, 2025, the Company carried out a full extraordinary amortization of the outstanding nominal value of the debentures from the 8th issuance, through the payment of a total amount of R$811,766 (principal and interest).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 14, 2025, the Company prepaid a PPE with a cost of 3-month Term SOFR + 1.41% p.a., contracted with Bank of China, in the total amount of US$47,350 (equivalent to R$260,342, including principal and interest).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On October 15, 2025, the Company prepaid, through a make-whole transaction, the remaining amount of the bond originally maturing in January 2026 and bearing an interest rate of 5.75% per annum. The transaction amounted to US$289,069 (equivalent to R$1,574,386, including principal and interest).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November 13, 2025, the Company fully prepaid a PPE contracted with several banks (a syndicated transaction), in the total amount of US$51,850 (equivalent to R$273,873, including principal and interest). The original maturity was March 2027, with a floating interest rate of SOFR + 1.41% p.a.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 8, 2025, the Company fully settled the remaining balance of the PPE that had been partially prepaid on March 10, 2025, in the amount of US$81,124 (equivalent to R$440,091, including principal and interest). The facility bore a floating interest rate of SOFR + 1.41% p.a.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:26.590%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.212%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.504%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.513%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Current</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Non-current</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Type</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Currency</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Interest rate</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Average annual interest rate - %</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">In foreign currency</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Bonds</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">USD</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Fixed</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.0</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">815,478</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,229,641</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">42,405,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">49,166,804</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">43,221,442</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">52,396,445</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Panda Bonds</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CNY</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Fixed</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2.7</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,785</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,224</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,039,941</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,016,331</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,046,726</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,020,555</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Export credits (“export prepayments”)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">USD</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">SOFR/Fixed</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.1</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">923,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6,236,806</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,901,305</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16,283,736</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,825,125</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">22,520,542</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Assets financing</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">USD</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2.9</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">107,159</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">137,300</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">178,526</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">298,252</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">285,685</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">435,552</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">ECA - Export Credit Agency</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">USD</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.7</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,426</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,297</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,778,184</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">769,702</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,795,610</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">776,999</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">IFC - International Finance Corporation </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:400;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">USD</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">SOFR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5.2</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(5,485)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(12,051)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,182,737</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,858,208</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,177,252</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,846,157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Others</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:center"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:center"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,516</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,210</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,455</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,516</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8,665</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,870,699</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,607,427</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">68,486,657</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">73,397,488</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">70,357,356</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">83,004,915</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">In local currency</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BNDES</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">UMBNDES</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">6.6</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,794</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">468,025</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">157,555</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">473,819</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">157,712</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BNDES</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TJLP</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8.6</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">89,150</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100,556</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">11,802</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">101,587</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100,952</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">202,143</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BNDES</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TLP</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13.5</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">178,549</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">94,903</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,562,188</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,607,102</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,740,737</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,702,005</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BNDES</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">SELIC</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16.1</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">282,017</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">243,223</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">514,605</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">704,825</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">796,622</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">948,048</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BNDES</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">TR</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4.0</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,933</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">84</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">153,762</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">70,015</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">163,695</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">70,099</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Assets financing</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CDI</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">15.5</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18,799</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18,427</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">38,214</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">56,956</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">57,013</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">75,383</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">NCE (“Export credit notes”)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">16.2</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,027</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">100,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">104,157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">103,027</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">NCR (“Rural producer certificates”)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CDI</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13.7</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">369,572</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">312,652</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,000,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,000,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">5,369,572</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,312,652</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">ECO INVEST - Crédito Agroindustria</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CDI</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">13.4</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,094</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">327,263</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">334,357</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Rural Product Note ("CPR")</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CDI/IPCA</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14.2</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">41,894</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,954,437</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,996,331</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Debentures</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">BRL</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">CDI/IPCA</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">14.1</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">127,247</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">120,931</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,179,399</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,738,616</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,306,646</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,859,547</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,134,206</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">893,960</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">23,309,695</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">17,536,656</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">24,443,901</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">18,430,616</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,004,905</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">10,501,387</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">91,796,352</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">90,934,144</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">94,801,257</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">101,435,531</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Interest on financing</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,525,436</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,541,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,525,436</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,541,312</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">Non-current funding</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,479,469</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">8,960,075</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">91,796,352</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">90,934,144</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">93,275,821</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">99,894,219</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,004,905</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">10,501,387</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">91,796,352</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">90,934,144</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">94,801,257</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">101,435,531</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1) The balances shown as negative include fundraising costs</span></div> 0.050 815478000 3229641000 42405964000 49166804000 43221442000 52396445000 0.027 6785000 4224000 2039941000 1016331000 2046726000 1020555000 0.051 923820000 6236806000 16901305000 16283736000 17825125000 22520542000 0.029 107159000 137300000 178526000 298252000 285685000 435552000 0.057 17426000 7297000 1778184000 769702000 1795610000 776999000 0.052 -5485000 -12051000 5182737000 5858208000 5177252000 5846157000 5516000 4210000 4455000 5516000 8665000 1870699000 9607427000 68486657000 73397488000 70357356000 83004915000 0.066 5794000 157000 468025000 157555000 473819000 157712000 0.086 89150000 100556000 11802000 101587000 100952000 202143000 0.135 178549000 94903000 5562188000 4607102000 5740737000 4702005000 0.161 282017000 243223000 514605000 704825000 796622000 948048000 0.040 9933000 84000 153762000 70015000 163695000 70099000 0.155 18799000 18427000 38214000 56956000 57013000 75383000 0.162 4157000 3027000 100000000 100000000 104157000 103027000 0.137 369572000 312652000 5000000000 2000000000 5369572000 2312652000 0.134 7094000 327263000 334357000 0.142 41894000 1954437000 1996331000 0.141 127247000 120931000 9179399000 9738616000 9306646000 9859547000 1134206000 893960000 23309695000 17536656000 24443901000 18430616000 3004905000 10501387000 91796352000 90934144000 94801257000 101435531000 1525436000 1541312000 1525436000 1541312000 1479469000 8960075000 91796352000 90934144000 93275821000 99894219000 3004905000 10501387000 91796352000 90934144000 94801257000 101435531000 <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.111%"><tr><td style="width:1.0%"></td><td style="width:31.125%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.004%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.005%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2027</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2028</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2029</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2030</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2031</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2032 onwards </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">In foreign currency</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Bonds</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,738,532</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,483,763</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,432,629</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,880,029</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">17,871,011</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">42,405,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Panda Bonds </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">942,700</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,018,648</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">78,593</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,039,941</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Export credits (“export prepayments”)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,298,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,433,498</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,905,821</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,382,592</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">880,430</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,901,305</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Assets financing</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">106,899</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">65,487</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,140</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">178,526</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">ECA - Export Credit Agency </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">684,513</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,093,671</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,778,184</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">IFC - International Finance Corporation </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">278,177</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,415,340</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,304,815</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,184,405</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,182,737</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,626,740</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,671,505</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,700,539</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,078,219</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,444,972</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">18,964,682</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">68,486,657</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">In local currency</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BNDES – TJLP</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">621</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,802</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BNDES – TLP</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">159,985</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">157,152</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">142,987</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">377,906</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">477,203</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,246,955</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,562,188</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BNDES – Fixed</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,100</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">417,525</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">468,025</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BNDES – SELIC</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,390</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,390</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,390</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,390</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,390</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">317,655</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">514,605</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">BNDES – TR</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,068</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,068</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,068</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,068</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,068</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">98,422</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">153,762</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Ecoinvest</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">73,617</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">73,617</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">73,617</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">106,412</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">327,263</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Assets financing</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19,113</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">19,033</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">68</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">38,214</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">NCE (“Export credit notes”)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">25,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">100,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">NCR (“Rural producer certificates”)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,000,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,000,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,000,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Rural Product Note ("CPR")</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,954,437</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,954,437</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Debentures </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">553,536</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">500,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,125,863</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,179,399</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">268,383</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">265,470</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">305,957</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,091,238</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,111,378</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,267,269</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">23,309,695</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,895,123</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,936,975</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">16,006,496</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,169,457</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,556,350</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">34,231,951</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">91,796,352</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div>(1) The balances shown as negative correspond to fundraising costs, which are amortized on a straight-line basis. 2738532000 9483763000 5432629000 6880029000 17871011000 42405964000 942700000 1018648000 78593000 2039941000 3298964000 3433498000 3905821000 5382592000 880430000 16901305000 106899000 65487000 6140000 178526000 684513000 1093671000 1778184000 278177000 1415340000 2304815000 1184405000 5182737000 4626740000 8671505000 15700539000 12078219000 8444972000 18964682000 68486657000 3727000 3727000 3727000 621000 11802000 159985000 157152000 142987000 377906000 477203000 4246955000 5562188000 10100000 10100000 10100000 10100000 10100000 417525000 468025000 39390000 39390000 39390000 39390000 39390000 317655000 514605000 11068000 11068000 11068000 11068000 11068000 98422000 153762000 73617000 73617000 73617000 106412000 327263000 19113000 19033000 68000 38214000 25000000 25000000 25000000 25000000 100000000 2000000000 3000000000 5000000000 1954437000 1954437000 553536000 500000000 8125863000 9179399000 268383000 265470000 305957000 3091238000 4111378000 15267269000 23309695000 4895123000 8936975000 16006496000 15169457000 12556350000 34231951000 91796352000 <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101,435,531</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">77,172,692</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Fundraising, net of issuance costs </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">23,871,760</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,692,905</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interest accrued </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,953,778</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,413,707</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Monetary and exchange rate variation, net</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(8,384,101)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,728,324</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Settlement of principal </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(22,353,325)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(9,410,807)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Settlement of interest </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,817,907)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,241,389)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortization of fundraising costs </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101,803</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">80,099</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Others (fair value adjustments to business combinations)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,282)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">94,801,257</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">101,435,531</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 101435531000 77172692000 23871760000 15692905000 5953778000 5413707000 -8384101000 17728324000 -22353325000 -9410807000 -5817907000 -5241389000 101803000 80099000 -6282000 94801257000 101435531000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The fundraising costs are amortized based on the terms of agreements and the effective interest rate.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:38.067%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.816%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.816%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.258%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balance to be amortized</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Type</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cost</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Amortization</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Bonds</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">411,818</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">269,220</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">142,598</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">168,450</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Panda Bonds</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,183</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">566</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,617</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Rural Product Note ("CPR")</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">65,177</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,358</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">63,819</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Export credits (“export prepayments”)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">180,466</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">108,854</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">71,612</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">63,080</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Debentures</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">156,800</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">46,391</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">110,409</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">125,663</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">BNDES </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">97,685</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">56,662</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">41,023</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25,777</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">ECA - Export Credit Agency</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,615</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,543</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12,072</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">IFC - International Finance Corporation</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">81,956</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,770</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">57,186</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">78,719</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Others</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,797</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">156</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,641</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,799</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,018,497</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">509,520</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">508,977</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">468,488</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 411818000 269220000 142598000 168450000 6183000 566000 5617000 65177000 1358000 63819000 180466000 108854000 71612000 63080000 156800000 46391000 110409000 125663000 97685000 56662000 41023000 25777000 13615000 1543000 12072000 81956000 24770000 57186000 78719000 4797000 156000 4641000 6799000 1018497000 509520000 508977000 468488000 1200000000 6951600 0.0145 250000 1418488 0.0175 151000 856552 0.0175 100000 542080 0.015 3000000 0.1354 331278 1.01 200000 1112500 0.0175 2000000 293255 0.9650 956745 0.070753 750000 0.070968 1000000 5412300 0.055 1300000 182734 983986 0.0255 100000 14056 75691 0.0290 0.0400 346445 2101917 1486064 8608769 0.014 221942 1.0000 0.0193 153869 873023 106585 605819 37123 210942 15988 89170000 401545 2162639 304737 1623519 0.055 233807 1259239 0.0575 811766 0.0141 47350 260342 0.0575 289069 1574386 51850 273873 0.0141 81124 440091 0.0141 <div style="margin-bottom:11pt"><span id="i92adcec9c32243b3ac5b1fc385a492ff"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">19 LEASES</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i21a0a4c4b26241cea4ce8056eeea7451"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">19.1 Right of use</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The balances rolled-forward are set out below:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:26.590%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.387%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%"> Lands</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%"> Machinery and equipment </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Buildings</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Ships and boats</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Vehicles</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%"> Total </span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2023</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,380,298</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">184,813</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">127,432</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,498,228</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,860</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,196,631</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions/updates</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">506,373</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">157,542</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">41,235</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,076</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">744,226</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(408,000)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(167,312)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(54,275)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(124,890)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(2,587)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(757,064)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3,102)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3,102)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2024</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,475,569</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">175,043</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">114,392</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,373,338</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">42,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,180,691</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions/updates</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">618,637</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">212,173</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">135,659</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,765</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">977,234</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(441,499)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(200,883)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(58,630)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(122,833)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,622)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(825,467)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(327)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(277)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(65)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(669)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2025</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,652,380</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">186,056</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">191,356</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,261,270</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">40,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,331,789</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The amount of depreciation related to land is substantially reclassified to biological assets to make up the formation costs.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Write-off due to cancellation of contracts.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span><br/></span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, the Company does not have commitments to lease agreements not yet in force.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iaa3ea3f306a14a7880cd79ff6b5ce22a"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">19.2 Lease liabilities</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The balance of lease payables on December 31, 2025, measured at present value and discounted at the respective discount rates are set forth below:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.972%"><tr><td style="width:1.0%"></td><td style="width:51.577%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.516%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.384%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.389%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Nature of agreement</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average rate - % p.a. </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Maturity </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Present value of liabilities</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Lands and farms</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12.62</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">September/2053</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,173,418</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Machinery and equipment</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11.65</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">April/2035</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">312,782</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Buildings</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11.27</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">February/2035</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">191,085</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Ships and boats</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11.25</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">February/2039</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,231,092</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Vehicles</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11.10</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">November/2028</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">21,513</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,929,890</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:72pt;text-align:justify;text-indent:-22.5pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(i)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:15.3pt">For the determination of the discount rates, the market CDI rate obtained from the yield curve on B3’s official website was used, considering the term equivalent to the final maturity and the nature of the contracts.</span></div><div style="padding-left:72pt;text-align:justify;text-indent:-22.5pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:13.5pt">Refers to the original maturities of the agreements and, therefore, does not consider eventual renewal clauses.</span></div><div style="margin-bottom:10pt;padding-left:36pt;text-align:justify;text-indent:-4.5pt"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The balances rolled-forward are set out below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,972,915</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,243,782</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Additions/updates</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">977,234</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">744,226</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Write-offs</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(669)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,102)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Payments</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,447,973)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,325,398)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Accrual of financial charges </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">733,342</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">700,283</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Exchange rate variations</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(304,959)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">613,124</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,929,890</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,972,915</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">857,810</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">872,228</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,072,080</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,100,687</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">On December 31, 2025, the amount of R$265,463 related to interest expenses on leased lands was capitalized to biological assets to represent the formation cost (R$249,135 as of December 31, 2024).</span></div><div style="margin-bottom:20pt;padding-left:22.5pt;text-indent:-22.5pt"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The maturity schedule for future payments not discounted to present value related to lease liabilities is disclosed in Note 4.2.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="icda6b058847c49f68db75f63200d060e"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">19.2.1 Amounts recognized in the statement of income for the year</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amounts recognized are set out below:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expenses relating to short-term assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,191</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,477</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expenses relating to low-value assets</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">56</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,083</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,247</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,560</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:18pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr></table></div> <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The balances rolled-forward are set out below:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:26.590%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.387%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%"> Lands</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%"> Machinery and equipment </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Buildings</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Ships and boats</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Vehicles</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%"> Total </span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2023</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,380,298</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">184,813</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">127,432</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,498,228</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,860</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,196,631</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions/updates</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">506,373</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">157,542</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">41,235</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,076</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">744,226</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(408,000)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(167,312)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(54,275)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(124,890)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(2,587)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(757,064)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3,102)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3,102)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2024</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,475,569</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">175,043</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">114,392</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,373,338</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">42,349</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,180,691</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions/updates</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">618,637</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">212,173</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">135,659</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,765</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">977,234</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Depreciation </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(441,499)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(200,883)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(58,630)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(122,833)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,622)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(825,467)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-offs </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(327)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(277)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(65)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(669)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2025</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,652,380</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">186,056</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">191,356</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,261,270</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">40,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,331,789</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:1pt solid #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The amount of depreciation related to land is substantially reclassified to biological assets to make up the formation costs.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Write-off due to cancellation of contracts.</span></div> 3380298000 184813000 127432000 1498228000 5860000 5196631000 506373000 157542000 41235000 39076000 744226000 408000000 167312000 54275000 124890000 2587000 757064000 3102000 3102000 3475569000 175043000 114392000 1373338000 42349000 5180691000 618637000 212173000 135659000 10765000 977234000 441499000 200883000 58630000 122833000 1622000 825467000 327000 277000 65000 669000 3652380000 186056000 191356000 1261270000 40727000 5331789000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The balance of lease payables on December 31, 2025, measured at present value and discounted at the respective discount rates are set forth below:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.972%"><tr><td style="width:1.0%"></td><td style="width:51.577%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.516%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.384%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.378%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.389%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Nature of agreement</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average rate - % p.a. </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Maturity </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Present value of liabilities</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Lands and farms</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12.62</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">September/2053</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,173,418</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Machinery and equipment</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11.65</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">April/2035</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">312,782</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Buildings</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11.27</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">February/2035</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">191,085</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Ships and boats</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11.25</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">February/2039</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,231,092</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Vehicles</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11.10</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">November/2028</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">21,513</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,929,890</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:72pt;text-align:justify;text-indent:-22.5pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(i)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:15.3pt">For the determination of the discount rates, the market CDI rate obtained from the yield curve on B3’s official website was used, considering the term equivalent to the final maturity and the nature of the contracts.</span></div><div style="padding-left:72pt;text-align:justify;text-indent:-22.5pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:13.5pt">Refers to the original maturities of the agreements and, therefore, does not consider eventual renewal clauses.</span></div> 0.1262 September/2053 4173418000 0.1165 April/2035 312782000 0.1127 February/2035 191085000 0.1125 February/2039 2231092000 0.1110 November/2028 21513000 6929890000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The balances rolled-forward are set out below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,972,915</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,243,782</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Additions/updates</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">977,234</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">744,226</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Write-offs</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(669)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,102)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Payments</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,447,973)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,325,398)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Accrual of financial charges </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">733,342</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">700,283</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Exchange rate variations</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(304,959)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">613,124</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,929,890</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,972,915</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">857,810</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">872,228</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,072,080</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,100,687</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">On December 31, 2025, the amount of R$265,463 related to interest expenses on leased lands was capitalized to biological assets to represent the formation cost (R$249,135 as of December 31, 2024).</span></div> 6972915000 6243782000 977234000 744226000 669000 3102000 1447973000 1325398000 733342000 700283000 -304959000 613124000 6929890000 6972915000 857810000 872228000 6072080000 6100687000 265463000 249135000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The amounts recognized are set out below:</span></div><div style="margin-bottom:10pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expenses relating to short-term assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,191</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,477</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expenses relating to low-value assets</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">56</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,083</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,247</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,560</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:18pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #494949;padding:0 1pt"></td></tr></table></div> 3191000 6477000 56000 4083000 3247000 10560000 <div style="margin-bottom:11pt"><span id="i8d71e028368c42fd949f0ab59a74824d"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">20 PROVISION FOR JUDICIAL LIABILITIES</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is involved in certain legal proceedings arising in the normal course of its business, which include tax, social security, labor, civil, environment and real estate.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company classifies the risk of unfavorable decisions in legal proceedings, based on legal advice, which reflects the estimated probable losses.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s Management believes that, based on the available information as of the date of these consolidated financial statements, its provisions for tax, social security, labor, civil, environment and real estate risks, accounted for according to IAS 37 are sufficient to cover estimated losses related to its legal proceedings, as set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i3a8c0f8a22f640b6ae47ddbcbd964e7c"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">20.1 Roll-forward and changes in the provisions for probable losses based on the nature of the proceedings, net of judicial deposits</span></div><div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:38.067%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.386%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Tax and <br/>social security </span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Labor</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Civil, environment and real estate</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Contingent liabilities assumed </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) (2)</span></div></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision balance at the beginning of the year</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">407,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">353,926</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">215,553</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,127,725</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,105,168</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Payments</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(71,692)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(113,840)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(9,176)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(194,708)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Reversal</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(51,228)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(99,936)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(55,513)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(32,368)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(239,045)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">14,650</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">128,217</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">14,056</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">156,923</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Monetary adjustment </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">40,069</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">27,991</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">20,491</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">88,551</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision balance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">339,763</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">296,358</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">185,411</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,095,357</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,916,889</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Judicial deposits </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(31,579)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(62,334)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(21,238)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(115,151)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision balance at the end of the year</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">308,184</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">234,024</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">164,173</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,095,357</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,801,738</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Amounts arising from contingent liabilities of a tax nature totaling </span><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">of R$1,962,549 and civil lawsuits in the amount of R$132,808, </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">measured and recorded at the estimated fair value resulting from the business combination with Fibria.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Reversal due to a change in likelihood, cancellation and/or due to settlement.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The amounts presented refer exclusively to the judicial deposits that have a legal right to offset.</span></div><div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:38.067%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.386%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Tax and <br/>social security</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Labor</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Civil, environment and real estate</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Contingent liabilities assumed </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) (2)</span></div></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision balance at the beginning of the year</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">468,839</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">349,058</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">139,435</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,155,545</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,112,877</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Payments</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(60,081)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(89,221)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(6,795)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(156,097)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Reversal</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(9,540)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(89,941)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,951)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(27,820)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(129,252)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,689</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">162,456</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">72,605</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">239,750</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Monetary adjustment</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,057</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">21,574</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,259</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">37,890</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision balance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">407,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">353,926</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">215,553</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,127,725</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,105,168</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Judicial deposits</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(66,746)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(91,596)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(20,076)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(178,418)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision balance at the end of the year</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">341,218</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">262,330</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">195,477</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,127,725</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,926,750</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Amounts arising from tax-related lawsuits with a possible or remote probability of loss in the amount of R$1,994,444 and civil lawsuits in the amount of R$133,281, measured and recorded at the estimated fair value resulting from the business combination with Fibria.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Reversal due to a change in likelihood, cancellation and/or due to settlement.</span></div><div><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i3d4aacf89fae4c8a91f81bf2b3f90743"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">20.1.1 Tax and social security</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, the Company has </span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">56</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (58 as of December 31, 2024) administrative and judicial proceedings of a tax or social security nature in which the disputed matters are related to IRPJ, CSLL, PIS, COFINS, ICMS among others, whose amounts are provisioned when the likelihood of loss is deemed probable by the Company’s external legal counsel and by Management. </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ia3d90495771948c4a94c3bafbc3916cf"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">20.1.2 Labor</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, the Company has </span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,152</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (1,178 as of December 31, 2024) labor lawsuits.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In general, the provisioned labor proceedings are related primarily to matters frequently contested by employees of agribusiness companies, such as wages and/or severance payments, in addition to suits filed by outsourced employees of the Company.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ide0b3d0419dc447ab7499bd0ce06e19a"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">20.1.3 Civil, environment and real estate</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, the Company has </span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">73</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> (97 as at December 31, 2024) civil, environmental and real estate proceedings.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The provisioned Civil, environment and real estate proceedings are related primarily to the payment of damages, including those arising from contractual obligations, traffic-related injuries, possessory actions, environmental restoration obligations, claims and others.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ie1d06608af5248d2a2175d2e6dd8bfe3"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">20.2 Contingencies with possible losses</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is involved in tax, civil and labor lawsuits, whose losses have been assessed as possible by Management, supported by legal counsel, and therefore no provision was recorded:</span></div><div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Taxes and social security </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,417,734</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,837,082</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Labor</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">189,506</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">171,480</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Civil and environmental </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1) (2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,023,689</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,065,714</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,630,929</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,074,276</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The amounts above do not include the fair value adjustments allocated to possible loss risk contingencies representing R$R$2,076,296 (R$2,108,635 as of December 31, 2024), which were recorded at fair value resulting from business combinations with Fibria, as presented in Note 20.1.1 above.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The Company is a defendant in a Public Civil Action (“ACP”) regarding compensation for damages caused to federal highways due to the transportation of timber exceeding the permitted weight. Based on a recent decision by the Superior Court of Justice (“STJ”), which established the thesis of civil liability without clear and objective liquidation criteria, as well as the change of the monetary correction index from IGPM/FGV to SELIC, the Company reassessed the exposure amount of this action to approximately R$352,442. This estimate made by management and supported by its external legal advisors, is based on scenarios with similarity to infraction notices suffered by other companies and assessed according to the quantification criteria applied by the Federal Public Ministry (“MPF”). Given the absence of clear and objective criteria for measuring such claims from the MPF in similar cases, management’s current estimate may vary to a higher or lower amount, subject to the final decision by the MPF/TRF1 regarding the Company's case. </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ife097010e1f547c492344f639b0dd768"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">20.2.1 Tax and social securities</span></div><div><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the year ended December 31, 2025, the Company had 631 (673 as of December 31, 2024) tax proceedings whose likelihood of loss is considered possible, in the total amount of R$10,417,734 (R$9,837,082 as of December 31, 2024) for which no provision was recorded. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The other tax and social security lawsuits involve various taxes, such as IRPJ, CSLL, PIS, COFINS, ICMS, ISS, IRRF. These disputes primarily arise from differing interpretations of the applicable tax regulations and the information provided in the ancillary obligations.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The most significant tax cases are outlined below:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Income Tax Assessment - IRPJ/CSLL - Swaps of Industrial and Forestry Assets: In December 2012, the Company received a tax assessment for income tax and social contribution, alleging unpaid tax on a capital gain in February 2007, the closing date of the transaction, when the Company executed an agreement with International Paper regarding a swap of industrial and forestry assets. On January 19, 2016, the Tax Federal Administrative Court (“CARF”) rejected, as per the casting vote of the CARF’s President, the appeal filed by the Company in the administrative process. The Company was notified of the decision on May 25, 2016 and, given the impossibility of further appeals and the consequent closure of the case at the administrative level, decided to pursue the discussion in the Judiciary. The lawsuit was ruled in favor of the Company's interests and the National Treasury's appeal is currently awaiting judgment at the lower court. In December 2023, pursuant to article 25, § 9ºA, of Law No. 14,689/23, the Active Debt Certificates were rectified to definitively cancel the amounts related to the tax assessment penalty and its charges. According to the Company and its external legal advisors the probability of loss in this case is possible, except for the provisioning of the amount equivalent to the contingent liability assumed arising from the business combination. For the year ended December 31, 2025, the estimated amount of the possible exposure is R$1,861,899 (R$1,688,690 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Income tax assessment - IRPJ/CSLL: This refers to an administrative proceeding initiated in October 2023, resulting from tax assessments for IRPJ and CSLL issued against Suzano S.A., for the calendar year of 2019. The infractions alleged include: (i) nondeductible expenses; (ii) improper deduction of operating expenses; (iii) profits earned by the subsidiaries abroad; (iv) goodwill amortization; (v) lack of addition of bonus paid to directors to the CSLL calculation basis, and (vi) tax loss and negative CSLL basis. The Company filed an administrative objection, which was partially upheld. Currently, the Company filed a voluntary appeal, which was partially granted. The issuance of the decision is currently awaited. In the Company’s opinion, supported by the opinions of its external legal counsel, the likelihood of loss in the case is assessed as possible. For the year ended December 31, 2025, the total amount of the possible exposure is R$1,008,823 (R$920,628 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Income Tax Assessment - IRPJ/CSLL - Disallowance of Depreciation, Amortization and Depletion Expenses – 2010 period: In December 2015, the Company received a tax assessment demanding the payment of IRPJ and CSLL. The assessment challenges the deductibility of depreciation, amortization and depletion expenses of 2010, which the Company had included in its income tax calculations. The Company filed an administrative appeal, which was partially upheld. This decision was subject to a voluntary appeal, filed by the Company in November 2017. The judgment was converted into a due diligence process, and currently, the Company is awaiting the completion of the due diligence. In the Company’s opinion, supported by the opinions of its external legal counsel, the likelihood of loss in the case is assessed as possible. For the year ended December 31, 2025 the total amount of the possible exposure is R$931,979 (R$875,466 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">Tax Assessment - IRPJ/CSLL: On October 5, 2020, the Company was notified of a Tax Assessment issued by the Brazilian Internal Revenue Service ("RFB") claiming the payment of IRPJ and CSLL credits, resulting from the remeasurement of the profit of its subsidiary Suzano Trading Ltd in the years ended December 31, 2014, 2015 and 2016. Based on the legal advisors hired to present the defense, the Company classifies, the risk of loss as possible with reference to the Company and, with reference to the Officers, also possible but with a higher chance of winning (possible to remote). The Company presented the administrative defense and, currently, the judgment was converted into a diligence. The objection was judged partially upheld, and the company will file a voluntary appeal regarding the portion that was unfavorable. In the Company’s opinion, supported by the opinions of its external legal counsel, the likelihood of loss in the case is assessed as possible. In the year ended December 31, 2025 the total amount of the possible exposure is R$663,188 (R$609,548 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(v)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.29pt">PIS/COFINS – Goods and Services – Period of 2009 to 2011: In December 2013, the Company was assessed by the RFB demanding the collection of PIS and COFINS credits disallowed for allegedly not being linked to its operational activities. In the first instance, the objection filed by the Company was dismissed. A voluntary appeal was filed and it was partially upheld in April 2016. From this decision, the Company filed a special appeal, and certain divergences were admitted for consideration by the Superior Chamber of Tax Appeals (“CSRF”). The National Treasury also filed a special appeal with the Superior Chamber. The CSRF denied the National Treasury’s appeal and partially granted the Company’s appeal. The issuance of the CSRF’s decision is currently awaited. In the Company’s opinion, supported by the opinions of its external legal counsel, the likelihood of loss in the case is assessed as possible. For the year ended December 31, 2025 the total amount of the possible exposure is R$213,286 (R$201,199 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(vi)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">Tax incentive - Agency for the Development of Northeastern Brazil (“ADENE”): In 2002, the Company applied for and was granted by the RFB the right to benefit from a reduction in the IRPJ and non-refundable additional taxes calculated on operating profit, for plants A and B (period from 2003 to 2013) and plant C (period from 2003 to 2012), all located in the Aracruz unit, under the condition of making new investments in its units located in the area covered by ADENE. In 2004, the Company received a notice from the extrajudicial administrator of the extinct Superintendency for the Development of the Northeast (“SUDENE”), informing it that the right to enjoy the benefit previously granted was deemed unfounded and would be revoked. In 2005, a tax assessment was issued demanding alleged amounts relating to the tax incentive enjoyed up to that point. After administrative discussion, the tax assessment was partially upheld recognizing the Company's right to benefit from the tax incentive until 2003. The Company's management, advised by its legal advisors, believes that the decision to cancel the referred tax benefits is incorrect and should not prevail, whether concerning the benefits already enjoyed or those not yet enjoyed until their respective final terms. Currently, the contingency is being discussed in the judicial sphere. The Company is awaiting the judgment of the appeal filed against the unfavorable decision. In the Company’s opinion, supported by the opinions of its external legal counsel, the likelihood of loss in the case is assessed as possible. For the year ended December 31, 2025 the total amount of the possible exposure is R$159,012 (R$150,869 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(vii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:7.13pt">Offsetting - IRRF - Period 2000: The Company filed a process to offset IRRF credits for the year ended December 31, 2000 against debts owed to the RFB. In April 2008, the Brazilian Federal Revenue Service partially recognized the credit in favor of the Company. The Company filed a Voluntary Appeal with CARF against this decision and the judgment was converted into a due diligence process. In the judgment rendered at the second administrative instance, the Company’s appeal was partially granted. We are currently awaiting the issuance of the decision. In the Company’s opinion, supported by the opinions of its external legal counsel, the likelihood of loss in the case is assessed as possible. For the year ended December 31, 2025 the total amount of the possible exposure is R$130,895 (R$125,489 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(viii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:4.55pt">IRPJ/CSLL - Partial Approval – 1997 Period: The Company filed a process to offset credits arising from tax losses for the year 1997 against debts owed to the RFB . In March 2009, the tax authorities approved only R$83,000, resulting in a difference of R$51,000. The Company is still awaiting the conclusion of the analysis of the credits under administrative review following a favorable decision by CARF in August 2019, which upheld the voluntary appeal filed by the Company. For the remaining portion of the credit, the Company filed a lawsuit to discuss the matter which is currently awaiting judgment in the second instance of its appeal, filed after an unfavorable ruling. In the Company’s opinion, supported by the opinions of its external legal counsel, the likelihood of loss in the case is assessed as possible. For the year ended December 31, 2025, the total amount of the possible exposure is R$128,393 (R$122,319 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ix)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.62pt">Tax Assessment - IRPJ/CSLL: Administrative proceeding demanding the collection of IRPJ and CSLL for the 2015 calendar year. The infractions alleged include (i) transfer pricing; and (ii) non-deductible expenses. The Company filed an objection in January 2020, which was partially upheld. Following this decision, the Company filed a voluntary appeal, and the judgment was converted into a due diligence process. The appeal is currently pending judgment. In the Company’s opinion, supported by the opinions of its external legal counsel, the likelihood of loss in the case is assessed as possible. For the year ended December 31, 2025, the total amount of the possible exposure is R$121,327 (R$112,168 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(x)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.2pt">IRPJ/CSLL - Partial Approval – 2000 Period: In 2024, the Company submitted a request to offset credits arising from the negative balance calculated in the year 2000 against debts owed to the Brazilian Federal Revenue Service (“RFB”). The RFB fully disallowed the tax credit. After presenting the defense and the appropriate appeals, the process ended unfavorably for the Company at the administrative level. The Attorney General's Office of the National Treasury (“PGFN”) filed a tax execution to collect the amounts, at which time the Company filed the appropriate motions to stay the tax execution, which were partially upheld. The Company has filed an Appeal, which is awaiting judgment. In the Company’s opinion, supported by the opinions of its external legal counsel, the likelihood of loss in the case is assessed as possible. For the year ended December 31, 2025, the estimated amount of exposure is R$105,556 (R$101,654 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(xi)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.62pt">ICMS – Credits – Period 05/2014 to 12/2014: The Company is a party to a tax enforcement action filed by the State of São Paulo for the collection of ICMS related to the period from May 2014 to December 2014. The assessment arises from the alleged failure to reverse ICMS credits linked to the replacement of Electric Energy Invoice Statements originally issued by the power utility, as well as the alleged lack of bookkeeping of the referred invoices related to the entry of electric energy into the facility. After the Company was served, a Surety Bond was submitted and an extension of time was requested for filing the appropriate defenses (appeals against tax enforcement). The Company is currently awaiting notification to file the defenses in the tax enforcement action. In the Company’s opinion, supported by the opinions of its external legal counsel, the likelihood of loss in the case is assessed as possible. For the year ended December 31, 2025, the estimated exposure amounts to R$118,867 (R$98,197 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ifadf60ebaaf248b8a8c702793ab15ad4"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">20.2.2 Labor</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, the Company was a defendant in 1,211 labor lawsuits, totaling R$189,506 (1,135 labor lawsuits, totaling R$171,480 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company also has several lawsuits in which employees’ unions in the states of Bahia, Espírito Santo, Maranhão, São Paulo and Mato Grosso do Sul are included.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="id14622647a9f4b6ebc7eeb0b15ad7e06"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">20.2.3 Civil, environmental and real estate</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, the Company was a defendant in approximately 222 civil, environmental and real estate lawsuits, totaling R$1,023,689 (201 lawsuits totaling R$5,065,714 as of December 31, 2024). </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In general, the civil and environmental proceedings in which the Company, including its subsidiaries, is a defendant, are mainly related to discussions regarding eligibility for environmental licenses, repair of environmental damage, matters relating to indemnities, including those arising from discussions about contractual obligations, precautionary measures, possessory actions, damage repair and revision actions, actions aimed at the recovery of credits (collection actions, monitoring, execution, credit qualifications related to bankruptcy and judicial recovery), actions of social movements interest, such as landless workers, quilombola communities, indigenous people and fishers, and actions resulting from traffic accidents. The Company has a general civil liability insurance policy that aims to cover, within the limits contracted in the policy, any legal convictions arising from damages to third parties (including employees). </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The most relevant civil cases are set forth below:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">The Company is involved in 3 Public Civil Actions (“ACPs”) filed by the Federal Public Prosecutor's Office (“MPF”) in which it requests (i) an injunction that the Company's trucks stop transporting wood on federal highways above the legal weight restrictions (ii) an increase in the fine for excess weight to be applied to Suzano and (iii) compensation for material damage caused to federal highways, the environment and the economic order and compensation for moral damage. One of the ACPs was judged partially well-founded and the Company filed an appeal to the competent court with a request to suspend the effects of the judgment, which is still pending assessment. The other two lawsuits were dismissed and an appeal is pending. In September 2021, both were suspended due to a decision by the STJ to evaluate the points of discussion in the form of a repetitive appeal. In December 2024, the STJ judged the repetitive appeals to allow the application of a double penalty (administrative and judicial), establishing a thesis authorizing the imposition of injunctive relief and civil liability. Appeals were filed over the past year, without any change to the challenged decision to date. </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the Company’s opinion, supported by the opinions of its external legal counsel, the likelihood of loss in the case is assessed as possible.</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">The company sued a competitor in the central-western region over the improper and unauthorized use of a variety of eucalyptus protected by intellectual property rights (cultivar) of the incorporated subsidiary Fibria. The prohibition on the cultivation of this biological asset by the competitor was protected by an injunction, which was confirmed in a judgment in favor of the Company, with the Company initiating the liquidation of the judgment. However, at the appeal stage and in an extended trial, there was a ruling against the Company recognizing a supposed incidental nullity of the cultivar, a decision that is currently subject to a motion for clarification. It should be noted that, in parallel, there is also a lawsuit in the Federal Court in which the competitor filed an action to annul the registration of the cultivar, but, to date, there has been no decision in this process determining the nullity or restricting the Company's right. In the Company’s opinion, supported by the opinions of its external legal counsel, the likelihood of loss in the case is assessed as possible.</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">The company sued a competitor in the central-western region over the improper and unauthorized use of a variety of eucalyptus protected by intellectual property rights (cultivar) of the incorporated subsidiary Fibria. The prohibition on the cultivation of this biological asset by the competitor was protected by an injunction, which was confirmed in a judgment in favor of the Company, with the Company initiating the liquidation of the judgment. However, at the appeal stage and in an extended trial, there was a ruling against the Company recognizing a supposed incidental nullity of the cultivar. Declaratory Embargos were filed, resulting in the suspension of the action until the final judgment of the annulment lawsuit pending before the Federal Court. A Special Appeal was filed, which was not admitted, leading to the filing of an Interlocutory Appeal (Agravo) against the decision denying the Special Appeal. As mentioned, in parallel, there is a proceeding before the Federal Court in which the competitor filed an action seeking the annulment of the cultivar registration; however, to date, the case is still pending evidentiary production, and there is no decision declaring the registration null or restricting the Company’s rights. </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the opinion of the Company’s external legal counsel, the likelihood of losing the case is possible.</span></div> <div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:38.067%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.386%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Tax and <br/>social security </span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Labor</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Civil, environment and real estate</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Contingent liabilities assumed </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) (2)</span></div></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision balance at the beginning of the year</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">407,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">353,926</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">215,553</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,127,725</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,105,168</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Payments</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(71,692)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(113,840)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(9,176)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(194,708)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Reversal</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(51,228)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(99,936)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(55,513)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(32,368)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(239,045)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">14,650</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">128,217</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">14,056</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">156,923</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Monetary adjustment </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">40,069</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">27,991</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">20,491</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">88,551</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision balance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">339,763</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">296,358</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">185,411</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,095,357</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,916,889</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Judicial deposits </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(31,579)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(62,334)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(21,238)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(115,151)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision balance at the end of the year</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">308,184</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">234,024</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">164,173</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,095,357</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,801,738</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Amounts arising from contingent liabilities of a tax nature totaling </span><span style="background-color:#ffffff;color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">of R$1,962,549 and civil lawsuits in the amount of R$132,808, </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">measured and recorded at the estimated fair value resulting from the business combination with Fibria.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Reversal due to a change in likelihood, cancellation and/or due to settlement.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The amounts presented refer exclusively to the judicial deposits that have a legal right to offset.</span></div><div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:38.067%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.951%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.386%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Tax and <br/>social security</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Labor</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Civil, environment and real estate</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Contingent liabilities assumed </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.2pt;font-weight:700;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">(1) (2)</span></div></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision balance at the beginning of the year</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">468,839</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">349,058</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">139,435</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,155,545</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,112,877</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Payments</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(60,081)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(89,221)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(6,795)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(156,097)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Reversal</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(9,540)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(89,941)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1,951)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(27,820)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(129,252)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Additions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,689</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">162,456</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">72,605</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">239,750</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Monetary adjustment</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,057</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">21,574</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,259</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">37,890</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision balance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">407,964</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">353,926</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">215,553</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,127,725</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,105,168</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Judicial deposits</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(66,746)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(91,596)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(20,076)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(178,418)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Provision balance at the end of the year</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">341,218</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">262,330</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">195,477</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,127,725</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,926,750</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Amounts arising from tax-related lawsuits with a possible or remote probability of loss in the amount of R$1,994,444 and civil lawsuits in the amount of R$133,281, measured and recorded at the estimated fair value resulting from the business combination with Fibria.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Reversal due to a change in likelihood, cancellation and/or due to settlement.</span></div> 407964000 353926000 215553000 2127725000 3105168000 71692000 113840000 9176000 194708000 51228000 99936000 55513000 32368000 239045000 14650000 128217000 14056000 156923000 40069000 27991000 20491000 88551000 339763000 296358000 185411000 2095357000 2916889000 -31579000 -62334000 -21238000 -115151000 308184000 234024000 164173000 2095357000 2801738000 1962549000 132808000 468839000 349058000 139435000 2155545000 3112877000 60081000 89221000 6795000 156097000 9540000 89941000 1951000 27820000 129252000 4689000 162456000 72605000 239750000 4057000 21574000 12259000 37890000 407964000 353926000 215553000 2127725000 3105168000 -66746000 -91596000 -20076000 -178418000 341218000 262330000 195477000 2127725000 2926750000 1994444 133281 56 58 1152 1178 73 97 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is involved in tax, civil and labor lawsuits, whose losses have been assessed as possible by Management, supported by legal counsel, and therefore no provision was recorded:</span></div><div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Taxes and social security </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,417,734</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,837,082</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Labor</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">189,506</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">171,480</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:7.2pt;text-indent:-7.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Civil and environmental </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1) (2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,023,689</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,065,714</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11,630,929</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15,074,276</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">The amounts above do not include the fair value adjustments allocated to possible loss risk contingencies representing R$R$2,076,296 (R$2,108,635 as of December 31, 2024), which were recorded at fair value resulting from business combinations with Fibria, as presented in Note 20.1.1 above.</span></div><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span>The Company is a defendant in a Public Civil Action (“ACP”) regarding compensation for damages caused to federal highways due to the transportation of timber exceeding the permitted weight. Based on a recent decision by the Superior Court of Justice (“STJ”), which established the thesis of civil liability without clear and objective liquidation criteria, as well as the change of the monetary correction index from IGPM/FGV to SELIC, the Company reassessed the exposure amount of this action to approximately R$352,442. This estimate made by management and supported by its external legal advisors, is based on scenarios with similarity to infraction notices suffered by other companies and assessed according to the quantification criteria applied by the Federal Public Ministry (“MPF”). Given the absence of clear and objective criteria for measuring such claims from the MPF in similar cases, management’s current estimate may vary to a higher or lower amount, subject to the final decision by the MPF/TRF1 regarding the Company's case. 10417734000 9837082000 189506000 171480000 1023689000 5065714000 11630929000 15074276000 2076296000 2108635000 352442000 631 673 10417734 9837082 1861899 1688690 1008823 920628 931979 875466 663188 609548 213286 201199 159012 150869 130895 125489 83000 51000 128393 122319 121327 112168 105556 101654 118867 98197 1211 189506 1135 171480 222 1023689 201 5065714 <div style="margin-bottom:11pt"><span id="i91c8cc4864904b028950906bb1717d09"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">21 EMPLOYEE BENEFIT PLANS</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company provides supplementary pension plan and defined benefit plan, such as medical assistance and life insurance, as set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iec29eb9a67cf4af6a48df383a2094499"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">21.1 Pension plan</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has current supplementary retirement plans, as disclosed below.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="icc738c8009cd46fd83261ec662dd0aee"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">21.1.1 Pension plan – Suzano Prev</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In 2005, the Company established the Suzano Prev pension plan, managed by BrasilPrev, an open private pension entity, which serves the employees of Suzano Group Companies, in the form of a defined contribution plan.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under the terms of the benefit plan agreement, for employees who have a salary above 10 Suzano reference units (“URS”), in addition to the 0.5% contribution, the contributions of the Company matches the employees' contributions, and affect the portion of the salary that exceeds 10 URS, which can vary between 1% and 6% of the nominal salary. This plan is called Basic Contribution 1.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's contributions to the employees are 0.5% of the nominal salary that does not exceed 10 URS, even though there is no contribution by the employees. This plan is called Basic Contribution 2.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">From August 2020, employees who have a salary lower than 10 URS will be able to invest 0.5% or 1% of their nominal salary, and the Company will monitor the employee's contributions. The employee can choose to invest up to 12% of their salary in the Suzano Prev pension plan, and the excess of Basic Contribution 1 or 2 may be invested in the supplementary contribution, where there is no counter-entry from the Company, and the employee must consider the two contributions within the limit of 12% of their salary.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Access to the balance constituted by the Company's contributions only occurs upon dismissal, and is directly related to the length of the employment relationship.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Contributions made by the Company, for Suzano Prev pension plan managed by Brasilprev Seguros e Previdência S.A., for the year ended December 31, 2025 amounted R$24,287 (R$21,719 as of December 31, 2024) recognized under the cost of sales, selling and general and administrative expenses.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i9c001ad153394592b74ded500c85c7d9"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">21.2 Defined benefits plan</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company offers the medical assistance and life insurance in addition to the pension plans, which are measured through actuarial calculations and recognized as personnel expenses in the income statement, as detailed below.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="id2aae937218c48ac8315e47cc4f4f7e3"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">21.2.1 Medical assistance</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company guarantees healthcare program cost coverage for a group of former employees who retired up to 2007, as well as their spouses for life and underage dependents.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For other groups of former employees, who exceptionally, according to the Company’s criteria and resolutions or based on rights related to compliance with pertinent legislation, the Company ensures the healthcare program.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main actuarial risks related are: (i) lower interest rates; (ii) longer than expected mortality tables; (iii) higher than expected turnover; and (iv) higher than expected growth in medical costs.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iac6c4a257bb64e409407b3f5c04cf1cb"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">21.2.2 Life insurance</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company offers the life insurance benefit to the group of former employees who retired up to 2005 at the Suzano and São Paulo administrative offices, and did not opt for the supplementary retirement plan.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The main actuarial risks are: (i) lower interest rates; and (ii) higher than expected mortality.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ibc091174d13b45eea1376699f4461b67"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">21.2.3 Roll-forward of actuarial liability</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The roll-forward of actuarial liabilities prepared based on actuarial report is set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:48.684%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.433%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.437%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">721,560</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">833,683</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Interest on actuarial liabilities</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">77,348</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">73,853</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current service cost</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,939</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,997</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Actuarial (gain) / loss – experience</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(13,340)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(125)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Actuarial (gain) / loss – financial assumptions</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,026</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(137,649)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Benefits paid directly by entity</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(52,390)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(50,199)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">741,143</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">721,560</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i0bbe85ff1a2f4ca9acf85c6e55e414df"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">21.2.4 Economic actuarial assumptions and biometric data</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:48.684%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.433%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.437%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Economic</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:10pt;text-align:center"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Nominal discount rate – medical assistance and life insurance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11.02% p.a.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11.16% p.a.</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Medical cost growth rate</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6.86% p.a.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6.86% p.a.</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Nominal inflation</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.50% p.a.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.50% p.a.</span></div></td></tr><tr style="height:15pt"><td colspan="3" rowspan="4" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Aging factor</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">0 to 24 years: 1.50% p.a.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">0 to 24 years: 1.50% p.a.</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25 to 54 years: 2.50% p.a.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25 to 54 years: 2.50% p.a.</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">55 to 79 years: 4.50% p.a.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">55 to 79 years: 4.50% p.a.</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Above 80 years: 2.50% p.a.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Above 80 years: 2.50% p.a.</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Biometric</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;text-align:center"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;text-align:center"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Table of general mortality</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">AT-2000</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">AT-2000</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Table of mortality of disabled persons</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">IAPB 57</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">IAPB 57</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Turnover</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1.00% p.a.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1.00% p.a.</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Retirement age</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">65 years</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">65 years</span></div></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Family composition</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Men 4 years + older</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Men 4 years + older</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">and 90% married</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">and 90% married</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Permanency in the plan</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">100%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">100%</span></div></td></tr></table></div><div><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ida7fa618c9d547a5859957d7af9bbcdf"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">21.2.5 Sensitivity analysis</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sensitivity analysis regarding the relevant assumptions of the plans show the impact on the liability balance:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:18.842%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.176%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.429%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.434%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Discount rate</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Medical costs growth rate</span></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">+0.50%</span></div></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">711,035 </span></div></td><td style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">+1.00%</span></div></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">807,480 </span></div></td><td style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="idcb4efb92973419db48ba6364fadace8"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">21.2.6 Forecast amounts and average duration of payments of obligations</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The nominal future benefit payments expected for the next 10 years, based on the obligation of the granted benefits, are presented below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.388%"><tr><td style="width:1.0%"></td><td style="width:51.205%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.019%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Payments</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Medical assistance and life insurance</span></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2026</span></div></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">56,551</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2027</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">60,184</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2028</span></div></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">63,864</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2029</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">67,549</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2030</span></div></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">71,203</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2031 to 2035</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">406,811</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 0.005 0.01 0.06 0.005 0.005 0.01 0.12 0.12 24287000 21719000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The roll-forward of actuarial liabilities prepared based on actuarial report is set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:48.684%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.433%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.437%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Opening balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">721,560</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">833,683</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Interest on actuarial liabilities</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">77,348</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">73,853</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current service cost</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,939</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,997</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Actuarial (gain) / loss – experience</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(13,340)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(125)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Actuarial (gain) / loss – financial assumptions</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6,026</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(137,649)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Benefits paid directly by entity</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(52,390)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(50,199)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Closing balance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">741,143</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">721,560</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 721560000 833683000 77348000 73853000 1939000 1997000 -13340000 -125000 6026000 137649000 52390000 50199000 741143000 721560000 <div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:48.684%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.433%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.437%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Economic</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:10pt;text-align:center"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Nominal discount rate – medical assistance and life insurance</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11.02% p.a.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">11.16% p.a.</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Medical cost growth rate</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6.86% p.a.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">6.86% p.a.</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Nominal inflation</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.50% p.a.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3.50% p.a.</span></div></td></tr><tr style="height:15pt"><td colspan="3" rowspan="4" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Aging factor</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">0 to 24 years: 1.50% p.a.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">0 to 24 years: 1.50% p.a.</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25 to 54 years: 2.50% p.a.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">25 to 54 years: 2.50% p.a.</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">55 to 79 years: 4.50% p.a.</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">55 to 79 years: 4.50% p.a.</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Above 80 years: 2.50% p.a.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Above 80 years: 2.50% p.a.</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Biometric</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;text-align:center"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:10pt;text-align:center"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Table of general mortality</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">AT-2000</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">AT-2000</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Table of mortality of disabled persons</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">IAPB 57</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">IAPB 57</span></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Turnover</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1.00% p.a.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1.00% p.a.</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Retirement age</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">65 years</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">65 years</span></div></td></tr><tr style="height:15pt"><td colspan="3" rowspan="2" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Family composition</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Men 4 years + older</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Men 4 years + older</span></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">and 90% married</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">and 90% married</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Permanency in the plan</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">100%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;padding-right:6pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">100%</span></div></td></tr></table></div> 0.1102 0.1116 0.0686 0.0686 0.0350 0.0350 0.0150 0.0150 0.0250 0.0250 0.0450 0.0450 0.0250 0.0250 AT-2000 AT-2000 IAPB 57 IAPB 57 0.0100 0.0100 P65Y P65Y 4 4 0.90 0.90 1 1 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The sensitivity analysis regarding the relevant assumptions of the plans show the impact on the liability balance:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:18.842%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.176%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.429%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:22.434%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Discount rate</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Medical costs growth rate</span></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">+0.50%</span></div></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">711,035 </span></div></td><td style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">+1.00%</span></div></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">807,480 </span></div></td><td style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 711035000 807480000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The nominal future benefit payments expected for the next 10 years, based on the obligation of the granted benefits, are presented below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.388%"><tr><td style="width:1.0%"></td><td style="width:51.205%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.376%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:46.019%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Payments</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Medical assistance and life insurance</span></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2026</span></div></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">56,551</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#dbdbdb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2027</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">60,184</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2028</span></div></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">63,864</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2029</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">67,549</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2030</span></div></td><td colspan="3" style="background-color:#dbdbdb;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">71,203</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#dbdbdb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2031 to 2035</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">406,811</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 56551000 60184000 63864000 67549000 71203000 406811000 <div style="margin-bottom:11pt"><span id="i9ac9693472e340f4995c63320766561e"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">22 SHARE-BASED COMPENSATION PLAN</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company grants members of the statutory and non-statutory board of directors, key employees and members of the Board of Directors (“Beneficiaries”) long-term share-based incentive plans, approved at the General Meeting with the objectives of: (i) aligning the interests of the beneficiaries with the interests of the Company and its shareholders, (ii) attracting, rewarding, retaining and incentivizing the beneficiaries to conduct the Company's business in a sustainable manner, within appropriate risk limits and aligned with the interests of the shareholders, and (iii) granting a financial incentive to the beneficiaries.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The plans granted by the Company are: (i) Phantom Shares Plan (“PS”), settled in in local currency and (ii) Restrict Shares Plan ("Performance Shares"), settled in shares.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The characteristics and measurement criteria of each plan are disclosed below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iad967c22f4864e13800f08eaa55e6205"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">22.1 Phantom shares plan</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The number of phantom shares to be granted to each beneficiary is calculated based on a financial amount per beneficiary.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The beneficiary may only exercise the rights to the phantom shares once the vesting period has been completed, lasting up to 5 (five) years from the date of grant, in accordance with the characteristics of each plan.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The settlement of the phantom shares is in cash, and the amount will be calculated by multiplying the number of shares granted by the value of the share measured based on the average price of the last 90 (ninety) trading sessions, adjusted, when applicable, for the Company’s Total Shareholder Return ("TSR"), in accordance with the criteria established in each plan.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The TSR represents a market condition and its effects are incorporated into the fair value measurement of the phantom shares at the grant date.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Since phantom share plans are settled in cash, their fair values are measured at the end of each reporting period.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If beneficiaries leave the Company during the vesting period, they will lose the right to exercise the phantom shares. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The roll-forward arrangements are set out below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:89.722%"><tr><td style="width:1.0%"></td><td style="width:6.175%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.175%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.187%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.890%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.187%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.187%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.187%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.187%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.175%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.175%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.185%"></td><td style="width:0.1%"></td></tr><tr><td colspan="63" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Number of shares</span></td></tr><tr style="height:20pt"><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Year of grant</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Fair value on grant date</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31/12/2024</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Shares granted</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Cancelled</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Exercised </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31/12/2025</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Available for completion</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Year of vesting</span></td></tr><tr style="height:20pt"><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2027</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2028</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2020</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$38.50</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">33,384 </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,083</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(34,467)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2021</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$62.25</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">874,480 </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">28,375</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(13,046)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(882,074)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,735</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,735</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2022</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$57.48</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,461,437 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">112,251</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(109,908)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(2,983,596)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">480,184</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">156,930</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">299,281</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">23,973</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2023</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$48.84</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,052,179 </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">98,965</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(246,315)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(209,268)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,695,561</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,439,228</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">256,333</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2024</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$56.53</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,675,017 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">86,771</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(207,385)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(95,013)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,459,390</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,286,297</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">173,093</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2025</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$60.53</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,684,754</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(168,804)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(105,413)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,410,537</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,410,537</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="9" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Number of stock options</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%">10,096,497 </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,012,199</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(745,458)</span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,309,831)</span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,053,407</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">164,665</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,738,509</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,566,603</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,583,630</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="9" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Book value</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">361,974</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">209,842</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(17,843)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(221,651)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">332,322</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Book value of the previous year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">268,489</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">196,956</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(23,470)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(80,001)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">361,974</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div><div><span><br/></span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">For the year ended December 31, 2025, the average price of the share options exercised, including exercises resulting from termination of employment, was R$56.57.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i2fe042de81604ca49c765ad9b89b86b0"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">22.2 Restricted shares plan</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Each performance share corresponds to 1 (one) common, registered, book-entry share with no par value issued by the Company, to be delivered to the beneficiary once the conditions established in this plan have been met.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The acquisition of rights to the beneficiaries is subject to: (i) continued permanence of the beneficiaries as directors of the Company during the vesting period, (ii) achievement of the goals assigned in the programs and (iii) any other conditions determined by the Board of Directors in each grant made.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The vesting period may last up to 5 (five) years, starting from the date of grant, according to the characteristics of each plan.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The number of performance shares to be effectively delivered to each beneficiary will depend on the achievement of the goals linked to the respective programs and contracts, and will be determined after the vesting period. This calculation will also consider the Total Shareholder Return (“TSR”), which is an indicator used to measure the performance of the shares of the group of companies characterized as competitors of Suzano.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">If beneficiaries leave the Company before fulfilling the conditions for obtaining rights, they lose the right to exercise the restricted share option.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The position is set forth below: </span></div><div style="padding-left:22.5pt;text-indent:-22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:88.888%"><tr><td style="width:1.0%"></td><td style="width:6.243%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.243%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.275%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.993%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.275%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.275%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:6.868%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.868%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.868%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.868%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.874%"></td><td style="width:0.1%"></td></tr><tr><td colspan="63" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Number of stock options</span></td></tr><tr style="height:20pt"><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Year of grant</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Fair value on grant date</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31/12/2024</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Shares granted</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Exercised</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31/12/2025</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="27" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Year of vesting</span></td></tr><tr style="height:20pt"><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2027</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2028</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2029</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2030</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2022</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$53.81</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">115,800 </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,758</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(119,558)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2023</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$51.41</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">383,568 </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12,448</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">396,016</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">277,249</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">118,767</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2024</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$55.77</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,480,743 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">80,509</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(348,417)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,212,835</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">227,697</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">312,564</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,672,574</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2025</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$61.39</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">467,265</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">467,265</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">230,773</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">236,492</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="9" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Number of stock options</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,980,111 </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">563,980</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(467,975)</span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,076,116</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">504,946</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">431,331</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">230,773</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,672,574</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">236,492</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="9" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Book value</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">60,226</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">45,642</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(25,126)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">80,742</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Book value of the previous year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">26,744</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">81,276</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(47,794)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">60,226</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div> P5Y P90D <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The roll-forward arrangements are set out below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:89.722%"><tr><td style="width:1.0%"></td><td style="width:6.175%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.175%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.187%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.890%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.187%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.187%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.187%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.187%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.175%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.175%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.419%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.185%"></td><td style="width:0.1%"></td></tr><tr><td colspan="63" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Number of shares</span></td></tr><tr style="height:20pt"><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Year of grant</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Fair value on grant date</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31/12/2024</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Shares granted</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Cancelled</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Exercised </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:3.9pt;font-weight:700;line-height:120%;position:relative;top:-2.1pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31/12/2025</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Available for completion</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="15" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Year of vesting</span></td></tr><tr style="height:20pt"><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2027</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2028</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2020</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$38.50</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">33,384 </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,083</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(34,467)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2021</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$62.25</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">874,480 </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">28,375</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(13,046)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(882,074)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,735</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">7,735</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2022</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$57.48</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,461,437 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">112,251</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(109,908)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(2,983,596)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">480,184</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">156,930</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">299,281</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">23,973</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2023</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$48.84</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">3,052,179 </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">98,965</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(246,315)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(209,268)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,695,561</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,439,228</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">256,333</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2024</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$56.53</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,675,017 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">86,771</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(207,385)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(95,013)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,459,390</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,286,297</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">173,093</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2025</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$60.53</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,684,754</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(168,804)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(105,413)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,410,537</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,410,537</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="9" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Number of stock options</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%">10,096,497 </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">4,012,199</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(745,458)</span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(4,309,831)</span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">9,053,407</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">164,665</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,738,509</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,566,603</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,583,630</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="9" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Book value</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">361,974</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">209,842</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(17,843)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(221,651)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">332,322</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Book value of the previous year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">268,489</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">196,956</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(23,470)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(80,001)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">361,974</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div><div><span><br/></span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">For the year ended December 31, 2025, the average price of the share options exercised, including exercises resulting from termination of employment, was R$56.57.</span></div> 38.50 33384 1083 34467 62.25 874480 28375 13046 882074 7735 7735 57.48 3461437 112251 109908 2983596 480184 156930 299281 23973 48.84 3052179 98965 246315 209268 2695561 2439228 256333 56.53 2675017 86771 207385 95013 2459390 2286297 173093 60.53 3684754 168804 105413 3410537 3410537 10096497 4012199 745458 4309831 9053407 164665 2738509 2566603 3583630 361974000 209842000 -17843000 -221651000 332322000 268489000 196956000 -23470000 -80001000 361974000 56.57 P5Y <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The position is set forth below: </span></div><div style="padding-left:22.5pt;text-indent:-22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:88.888%"><tr><td style="width:1.0%"></td><td style="width:6.243%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.243%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.275%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.993%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.275%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.275%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:6.868%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.868%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.868%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.868%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.425%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:6.874%"></td><td style="width:0.1%"></td></tr><tr><td colspan="63" style="border-bottom:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Number of stock options</span></td></tr><tr style="height:20pt"><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Year of grant</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Fair value on grant date</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31/12/2024</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Shares granted</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Exercised</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">31/12/2025</span></td><td colspan="3" rowspan="2" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="27" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Year of vesting</span></td></tr><tr style="height:20pt"><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2026</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2027</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2028</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2029</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2030</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2022</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$53.81</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">115,800 </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,758</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(119,558)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2023</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$51.41</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">383,568 </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">12,448</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">396,016</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">277,249</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">118,767</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2024</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$55.77</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,480,743 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">80,509</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(348,417)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2,212,835</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">227,697</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">312,564</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,672,574</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">2025</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">R$61.39</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">467,265</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">467,265</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">230,773</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">236,492</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="9" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Number of stock options</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%">2,980,111 </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">563,980</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(467,975)</span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">3,076,116</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">504,946</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">431,331</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">230,773</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">1,672,574</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">236,492</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="9" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#ebebeb;padding:2px 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Book value</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">60,226</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">45,642</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(25,126)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">80,742</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">Book value of the previous year</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">26,744</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">81,276</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">(47,794)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:700;line-height:120%">60,226</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div> 53.81 115800 3758 119558 51.41 383568 12448 396016 277249 118767 55.77 2480743 80509 348417 2212835 227697 312564 1672574 61.39 467265 467265 230773 236492 2980111 563980 467975 3076116 504946 431331 230773 1672574 236492 60226000 45642000 -25126000 80742000 26744000 81276000 -47794000 60226000 <div style="margin-bottom:11pt"><span id="i78c145b4e5734c2fa86afd3f75ac24ff"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">23 LIABILITIES FOR ASSETS ACQUISITIONS AND SUBSIDIARIES</span></div><div style="padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:68.770%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.390%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.394%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Business combinations</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Facepa </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">28,394</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">27,182</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Vale Florestar Fundo de Investimento em Participações ("VFFIP") </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">66,446</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">93,308</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">94,840</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">120,490</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,719</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">21,166</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">77,121</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99,324</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Acquired in March 2018, for the amount of R$307,876, upon the payment of R$267,876, with the remainder updated at the IPCA, adjusted for possible losses incurred up to the payment date, with maturity in March 2028.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">On August 2014, the Company acquired Vale Florestar S.A. through VFFIP, with maturity up to August 2029. The annual settlements, carried out in the month of August, are subject to interest and updated by the variations of the US$ exchange rate, and partially updated by the IPCA.</span></div> <div style="padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:68.770%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.390%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.394%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Business combinations</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Facepa </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">28,394</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">27,182</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Vale Florestar Fundo de Investimento em Participações ("VFFIP") </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">66,446</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">93,308</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">94,840</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">120,490</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:3pt double #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Current </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">17,719</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">21,166</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Non-current</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">77,121</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">99,324</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Acquired in March 2018, for the amount of R$307,876, upon the payment of R$267,876, with the remainder updated at the IPCA, adjusted for possible losses incurred up to the payment date, with maturity in March 2028.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">On August 2014, the Company acquired Vale Florestar S.A. through VFFIP, with maturity up to August 2029. The annual settlements, carried out in the month of August, are subject to interest and updated by the variations of the US$ exchange rate, and partially updated by the IPCA.</span></div> 28394000 27182000 66446000 93308000 94840000 120490000 17719000 21166000 77121000 99324000 307876000 267876000 <div style="margin-bottom:11pt"><span id="i43e360dcc2d14550953c26180327631e"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">24 SHAREHOLDERS’ EQUITY</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i4cb0f72b7c6f47ad8f5e0be23d17f522"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">24.1 Share capital</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, Suzano’s share capital was R$24,269,281 divided into 1,264,117,615 common shares, all nominative, book-entry shares without par value. Expenses related to the public offering were R$33,735, totaling a net share capital of R$24,235,546. The breakdown of the share capital is as set out below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.868%"><tr><td style="width:1.0%"></td><td style="width:46.676%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.512%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.518%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Quantity</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(%)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Quantity</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(%)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Controlling Shareholders</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Suzano Holding S.A.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">367,612,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">29.08</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">367,612,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">29.08</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Controller</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">196,065,636</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15.51</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">196,065,636</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15.51</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Managements and related persons</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">32,157,608</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2.54</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">32,784,440</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2.59</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Alden Fundo de Investimento em Ações</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">27,154,744</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2.15</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,154,744</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2.07</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">622,990,317</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">49.28</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">622,617,149</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">49.25</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Treasury (Note 24.5)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">28,208,827</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2.23</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,875,787</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1.97</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other shareholders</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">612,918,471</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">48.49</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">616,624,679</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">48.78</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,117,615</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">100.00</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,117,615</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">100.00</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">For the year ended December 31, 2025, SUZB3 common shares ended the period quoted at R$51.45 and R$61.78 on December 31, 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 10, 2025, the Board of Directors approved an increase in the Company's share capital in the amount of R$5,000,000, as described in note 1.2.2.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i2a7f961bd138468a935779fb1e5a0be7"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">24.2 Dividends, interest on equity and reserve calculations</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company´s bylaws establishes that the minimum annual dividend shall be the lower of:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">25% of the adjusted net income for the year pursuant to Article 202 of Brazilian Law No. 6,404/76; or</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">10% of the Company's consolidated operating cash generation (“GCO”) for the year.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 4, 2024, the Board of Directors approved the payment of interest on equity by the Company, in the total gross amount of R$2,500,000 allocated to the profit reserves.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the year ended December 31, 2025, based on the criteria defined in the bylaws, mandatory minimum dividends were determined in accordance with item (ii) above, as set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.868%"><tr><td style="width:1.0%"></td><td style="width:82.974%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Accounting EBITDA</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">21,946,267</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjustments to EBITDA (note 28.2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(209,947)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Adjusted EBITDA</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">21,736,320</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Capex Maintenance (Sustain) </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,880,041)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">GCO = Adjusted EBITDA - Capex Maintenance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,856,279</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Dividends (10%) - Art. 26, "c" of the Bylaws</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,385,628</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interim dividends (note 1.2.3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,380,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Dividends to be distributed</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,628</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the year ended December 31, 2024, no dividends were distributed as a result of the loss for the year. </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="ifbf692423e1a41fba2a087cd686afc70"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">24.3 Reserves</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i8bd17cfd76ee4b058f8c568bf8f98d28"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">24.3.1 Capital reserve</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">They consist of amounts received by the Company arising from transactions with shareholders that do not pass through the income statement and may be used to absorb losses when they exceed profit reserves and redemptions, reimbursements and purchases of shares.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i1e7b0caaed5843c6a15be931c97f88d8"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">24.3.2 Income reserves</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Reserves are constituted by the allocation of the Company's profits, after the allocation for the payment of the minimum mandatory dividends and after the allocation to the various profit reserves, as set forth below:</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Legal: established based on 5% (five percent) of the net profit of each fiscal year, in accordance with Article 193 of Brazilian Law No. 6,404/76, and limited to 20% (twenty percent) of the share capital. In any year in which the balance of the legal reserve, combined with the amounts of capital reserves, exceeds 30% (thirty percent) of the share capital, the allocation of a portion of net income to the legal reserve will not be mandatory. The use of this reserve is restricted to offsetting losses and increasing share capital, aiming to ensure the integrity of the share capital. For the year ended December 31, 2025, the balance of this reserve was R$2,517,519 (R$1,847,109 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Capital increase: established based on up to 90% (ninety percent) of the remaining balance of net income for the year, limited to 80% (eighty percent) of the share capital, pursuant to the Company’s bylaws, after the allocation to the legal reserve and the minimum mandatory dividends. The purpose of this reserve is to ensure the Company maintains adequate operating conditions. For the year ended December 31, 2025, the Company allocated R$2,807,632 to the capital increase (Note 1.2.2), ending the year with a balance of R$10,128,485 (R$2,807,632 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.72pt">Special statutory: established based on 10% (ten percent) of the remaining balance of net income for the year, with the purpose of ensuring the continuity of dividend distribution, up to the limit of 20% (twenty percent) of the share capital. For the year ended December 31, 2025, the balance of this reserve was R$2,972,996 (R$1,847,109 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:9.71pt">Tax incentives: established under the terms of Article 195-A of Law No. 6,404/76, as amended by Law No. 11,638/07 and based on a proposal from the Company’s management bodies. The Company allocates the portion of net income arising from donations or government subsidies to investments, and this portion is excluded from the basis for calculating the mandatory minimum dividend. For the year ended December 31, 2025, the balance of this reserve was R$1,534,462 (R$1,319,908 as of December 31, 2024). This increase is due to the constitution of reserves related to the benefits of Exploration Profit (note 12.3) and Reinvestment. Exploration Profit, applicable to the manufacturing units located in the states of Espírito Santo, Maranhão, and Bahia (under Sudene’s approval), as well as the plant in Belém do Pará (under Sudam’s approval), contributed to a reserve of R$214,555 in the year ended December 31, 2025. Regarding the Reinvestment incentive, there was no use of this benefit during the year, which explains the maintenance of the reserve at R$14,574, related to the previous year. s for the investment subsidy tax incentive, in accordance with Law No. 14,789/2023, the Company taxed the results equivalent to these amounts, and no new reserve was constituted for this tax incentive in the current year. Only the maintenance of the reserve in the amount of R$291,937 was recorded, referring to the benefit from a period prior to 2024, under the rules in effect before Law No. 14,789/2023.</span></div><div style="margin-bottom:10pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(v)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.29pt">Investment reserve: established in accordance with Article 196 of Law No. 6,404/76, as amended by Law No. 11,638/07, profit retention is carried out based on a capital budget. This practice aims to meet the needs of the Company’s investment plan, previously approved at the Annual General Meeting. For the year ended December 31, 2025, the Company allocated R$2,192,368 to capital increase (Note 1.2.2), ending the year with a balance of R$2,964,772 (R$5,157,140 as of December 31, 2024).</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="if3732c4ba26a44dbafd868e0538961c1"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">24.4 Accumulated other comprehensive income</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These are changes that occur in shareholders' equity arising from transactions and other events that do not originate with shareholders and are disclosed net of tax effects, as set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.868%"><tr><td style="width:1.0%"></td><td style="width:32.615%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.382%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Conversion of debentures – 5th issuance</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Actuarial loss</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Effect of fair value measurement of financial assets</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Effect of exchange rate changes on translation of foreign investments</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Deemed cost</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2023</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(45,746)</span></div></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(229,627)</span></div></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,298 </span></div></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,396 </span></div></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,803,975 </span></div></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,538,296 </span></div></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Actuarial gain</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">90,931 </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">90,931 </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Effect of fair value measurement of equity instruments through other comprehensive income</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(364,231)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(364,231)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Effect of exchange rate changes on translation of foreign subsidiaries’ financial statements</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">163,185 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">163,185 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Realization of deemed cost, net of income taxes (IRPJ and CSLL)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(79,385)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(79,385)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2024</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(45,746)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(138,696)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(362,933)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">171,581</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,724,590</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,348,796</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Actuarial gain</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,828</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,828</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Effect of fair value measurement of equity instruments through other comprehensive income</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(219,685)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(219,685)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Effect of exchange rate changes on translation of foreign subsidiaries’ financial statements</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(129,061)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(129,061)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Realization of deemed cost, net of income taxes (IRPJ and CSLL)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(116,209)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(116,209)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2025</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(45,746)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(133,868)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(582,618)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">42,520</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,608,381</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">888,669</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i8ece927c7587483d8ce0b196cb1ea6fc"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">24.5 Treasury shares</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, the Company had 28,208,827 (24,875,787 as of December 31, 2024) of its own common shares held in treasury, with an average cost of R$53.57 per share, with a historical value of R$1,511,146 (R$1,339,197 as at December 31, 2024) and the market corresponding to R$1,451,344 (R$1,536,826 as at December 31, 2024). </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, the Company granted 372,160 common shares at an average cost of R$53.66 per share, with a historical value of R$19,969 to comply with the restricted shares plan.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.868%"><tr><td style="width:1.0%"></td><td style="width:35.198%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.257%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Quantity </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average cost <br/>per share </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Historical <br/>value </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Market <br/>value</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2023</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">34,765,600</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">42.69</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,484,014</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,934,010</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Exercised</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,005,113)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">47.55 </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(47,794)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(54,213)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Repurchase</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">51,115,300 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">54.91 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,806,764 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,806,764 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Canceled</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(60,000,000)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">48.40 </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2,903,787)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3,238,200)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2024</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,875,787</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">53.84</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,339,197</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,536,826</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Exercised</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(372,160)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">53.66</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(19,969)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(20,251)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Repurchase</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,705,200</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">51.80</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">191,918</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">191,918</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2025</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">28,208,827</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">53.57</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,511,146</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,451,344</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i90dcc70e3d1f4675a76ce5872e761727"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">24.6 Distribution of results</span></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.868%"><tr><td style="width:1.0%"></td><td style="width:38.641%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.386%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Limit on share capital %</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Distribution of results</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Reserve balances</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Realization of deemed cost, net of taxes</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(116,209)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(79,385)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tax incentive reserve</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">214,554</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">321,671</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,534,462</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,319,908</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Legal reserve</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">670,410</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,517,519</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,847,109</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Capital increase reserve</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">80.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,128,485</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,128,485</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,807,632</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Special statutory reserve</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,125,887</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,972,996</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,847,109</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Investments reserve</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,315,184)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,964,772</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,157,140</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Capital reserve</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">80,742</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">60,226</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Unclaimed dividends forfeited</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(566)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,300)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Minimum mandatory dividends</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,385,628</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,408,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,074,198)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20,198,976</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,039,124</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On December 31, 2025, Suzano’s share capital was R$24,269,281 divided into 1,264,117,615 common shares, all nominative, book-entry shares without par value. Expenses related to the public offering were R$33,735, totaling a net share capital of R$24,235,546. The breakdown of the share capital is as set out below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.868%"><tr><td style="width:1.0%"></td><td style="width:46.676%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.512%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.518%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Quantity</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(%)</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Quantity</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(%)</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Controlling Shareholders</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Suzano Holding S.A.</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">367,612,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">29.08</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">367,612,329</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">29.08</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Controller</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">196,065,636</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15.51</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">196,065,636</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">15.51</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Managements and related persons</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">32,157,608</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2.54</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">32,784,440</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2.59</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Alden Fundo de Investimento em Ações</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">27,154,744</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2.15</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">26,154,744</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2.07</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">622,990,317</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">49.28</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">622,617,149</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">49.25</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Treasury (Note 24.5)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">28,208,827</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2.23</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,875,787</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1.97</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other shareholders</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">612,918,471</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">48.49</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">616,624,679</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">48.78</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,117,615</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">100.00</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,117,615</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">100.00</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 24269281000 1264117615 33735000 24235546000 367612329 0.2908 367612329 0.2908 196065636 0.1551 196065636 0.1551 32157608 0.0254 32784440 0.0259 27154744 0.0215 26154744 0.0207 622990317 0.4928 622617149 0.4925 28208827 0.0223 24875787 0.0197 612918471 0.4849 616624679 0.4878 1264117615 1.0000 1264117615 1.0000 51.45 61.78 5000000000 0.25 0.10 -2500000000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the year ended December 31, 2025, based on the criteria defined in the bylaws, mandatory minimum dividends were determined in accordance with item (ii) above, as set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.868%"><tr><td style="width:1.0%"></td><td style="width:82.974%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.253%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Accounting EBITDA</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">21,946,267</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjustments to EBITDA (note 28.2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(209,947)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Adjusted EBITDA</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">21,736,320</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Capex Maintenance (Sustain) </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,880,041)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">GCO = Adjusted EBITDA - Capex Maintenance</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,856,279</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Dividends (10%) - Art. 26, "c" of the Bylaws</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,385,628</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interim dividends (note 1.2.3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,380,000</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Dividends to be distributed</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,628</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div> 21946267000 -209947000 21736320000 -7880041000 13856279000 1385628000 1380000000 5628000 0.05 0.20 0.30 2517519000 1847109000 0.90 0.80 2807632000 10128485000 2807632000 0.10 0.20 2972996000 1847109000 1534462000 1319908000 214555000 -14574000 -291937000 2192368000 2964772000 5157140000 <div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">These are changes that occur in shareholders' equity arising from transactions and other events that do not originate with shareholders and are disclosed net of tax effects, as set forth below:</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.868%"><tr><td style="width:1.0%"></td><td style="width:32.615%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.373%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.382%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Conversion of debentures – 5th issuance</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Actuarial loss</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Effect of fair value measurement of financial assets</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Effect of exchange rate changes on translation of foreign investments</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Deemed cost</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2023</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(45,746)</span></div></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(229,627)</span></div></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,298 </span></div></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">8,396 </span></div></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,803,975 </span></div></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="2" style="border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">1,538,296 </span></div></td><td style="border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Actuarial gain</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">90,931 </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">90,931 </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Effect of fair value measurement of equity instruments through other comprehensive income</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(364,231)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(364,231)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Effect of exchange rate changes on translation of foreign subsidiaries’ financial statements</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">163,185 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">163,185 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Realization of deemed cost, net of income taxes (IRPJ and CSLL)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(79,385)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(79,385)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2024</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(45,746)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(138,696)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(362,933)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">171,581</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,724,590</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,348,796</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Actuarial gain</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,828</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:3pt double #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4,828</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:3pt double #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Effect of fair value measurement of equity instruments through other comprehensive income</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(219,685)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(219,685)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Effect of exchange rate changes on translation of foreign subsidiaries’ financial statements</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(129,061)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(129,061)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Realization of deemed cost, net of income taxes (IRPJ and CSLL)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(116,209)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(116,209)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2025</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(45,746)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(133,868)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">(582,618)</span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">42,520</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1,608,381</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:700;line-height:120%">888,669</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> -45746000 -229627000 1298000 8396000 1803975000 1538296000 90931000 90931000 -364231000 -364231000 163185000 163185000 -79385000 -79385000 -45746000 -138696000 -362933000 171581000 1724590000 1348796000 4828000 4828000 -219685000 -219685000 -129061000 -129061000 -116209000 -116209000 -45746000 -133868000 -582618000 42520000 1608381000 888669000 28208827000 24875787000 53.57 1511146000 1339197000 1451344000 1536826000 -372160000 53.66 -19969000 <div style="margin-bottom:10pt;padding-left:54pt;text-align:justify;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.868%"><tr><td style="width:1.0%"></td><td style="width:35.198%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.257%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Quantity </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Average cost <br/>per share </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Historical <br/>value </span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Market <br/>value</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2023</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">34,765,600</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">42.69</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,484,014</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><div style="margin-bottom:10pt;text-align:center"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,934,010</span></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Exercised</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(1,005,113)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">47.55 </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(47,794)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(54,213)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Repurchase</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">51,115,300 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">54.91 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,806,764 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2,806,764 </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Canceled</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:8pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(60,000,000)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">48.40 </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(2,903,787)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(3,238,200)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2024</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">24,875,787</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">53.84</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,339,197</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,536,826</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Exercised</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(372,160)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">53.66</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(19,969)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(20,251)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Repurchase</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,705,200</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">51.80</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">191,918</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">191,918</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Balances at December 31, 2025</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">28,208,827</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">53.57</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,511,146</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,451,344</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 34765600000 42.69 1484014000 1934010000 -1005113000 47.55 -47794000 -54213000 51115300000 54.91 2806764000 2806764000 -60000000000 48.40 -2903787000 -3238200000 24875787000 53.84 1339197000 1536826000 -372160000 53.66 -19969000 -20251000 3705200000 51.80 191918000 191918000 28208827000 53.57 1511146000 1451344000 <div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.868%"><tr><td style="width:1.0%"></td><td style="width:38.641%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.386%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Limit on share capital %</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Distribution of results</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Reserve balances</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Realization of deemed cost, net of taxes</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(116,209)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(79,385)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Tax incentive reserve</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">214,554</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">321,671</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,534,462</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,319,908</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Legal reserve</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">670,410</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,517,519</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,847,109</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Capital increase reserve</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">80.00</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,128,485</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,128,485</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,807,632</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Special statutory reserve</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20.00</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">%</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,125,887</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,972,996</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,847,109</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Investments reserve</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,315,184)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,964,772</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,157,140</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Capital reserve</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">80,742</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">60,226</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Unclaimed dividends forfeited</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(566)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,300)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Minimum mandatory dividends</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,385,628</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,408,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,074,198)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">20,198,976</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,039,124</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> -116209000 -79385000 214554000 321671000 1534462000 1319908000 0.2000 670410000 2517519000 1847109000 0.8000 10128485000 10128485000 2807632000 0.2000 1125887000 2972996000 1847109000 -7315184000 2964772000 5157140000 80742000 60226000 -566000 -1300000 1385628000 13408189000 -7074198000 20198976000 13039124000 <div style="margin-bottom:11pt"><span id="i6cfac5e54f8c4f2dba199505828c41cd"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">25 EARNINGS PER SHARE</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i80d0278ae5224f2ca680c2d02c88b2b4"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">25.1 Basic</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The basic earnings (loss) per share is measured by dividing the profit attributable to the Company’s shareholders by the weighted average number of common shares issued during the year, excluding the common shares acquired by the Company and held as treasury shares.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:62.745%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.382%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net income (loss) for the year attributed to Controlling shareholders'</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,408,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,074,198)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14,084,848</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average number of shares in the year – in thousands</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,118</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,289,637</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,330,020</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average treasury shares – in thousands</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(27,416)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(24,836)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(32,827)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average number of outstanding shares – in thousands</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,236,702</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,801</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,297,193</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Basic earnings per common share – R$</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10.84189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5.59313)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10.85794</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iebe5a0bacbc74f56b46d2f40454845cb"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">25.2 Diluted</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The diluted earnings (loss) per share is measured by adjusting the weighted average of outstanding common shares, assuming the conversion of all common shares with dilutive effects. </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:62.745%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.382%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net income (loss) for the year attributed to Controlling shareholders'</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,408,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,074,198)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14,084,848</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average number of outstanding shares – in thousands</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,236,702</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,801</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,297,193</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Average number of potential shares (stock options) - in thousands</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,012</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">487</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average number of shares (diluted) – in thousands</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,239,714</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,801</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,297,680</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Diluted earnings per common share – R$</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10.81555</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5.59313)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10.85387</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of December 31, 2024, the average number of dilutive potential ordinary shares (stock options) was 2,980 thousand. However, due to the net loss for the year, the Company did not include the dilution effect in the measurement.</span></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:62.745%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.382%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net income (loss) for the year attributed to Controlling shareholders'</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,408,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,074,198)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14,084,848</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average number of shares in the year – in thousands</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,118</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,289,637</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,330,020</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average treasury shares – in thousands</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(27,416)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(24,836)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(32,827)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average number of outstanding shares – in thousands</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,236,702</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,801</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,297,193</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Basic earnings per common share – R$</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10.84189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5.59313)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10.85794</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 13408189000 -7074198000 14084848000 1264118000 1289637000 1330020000 -27416000 -24836000 -32827000 1236702000 1264801000 1297193000 10.84189 -5.59313 10.85794 <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:62.745%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.377%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.382%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net income (loss) for the year attributed to Controlling shareholders'</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">13,408,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,074,198)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14,084,848</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average number of outstanding shares – in thousands</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,236,702</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,801</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,297,193</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Average number of potential shares (stock options) - in thousands</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,012</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">487</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Weighted average number of shares (diluted) – in thousands</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,239,714</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,801</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,297,680</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #242424;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Diluted earnings per common share – R$</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10.81555</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5.59313)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10.85387</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 13408189000 -7074198000 14084848000 1236702000 1264801000 1297193000 3012000 487000 1239714000 1264801000 1297680000 10.81555 -5.59313 10.85387 <div style="margin-bottom:11pt"><span id="ib29459d0a1e74314a0639e1d6757c560"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">26 NET FINANCIAL RESULT</span></div><div style="margin-bottom:6pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.123%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Financial expenses</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interest on loans, financing and debentures </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,679,047)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,453,739)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,636,730)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Premium expenses on early settlements</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(110,060)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortization of transaction costs</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(101,926)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(80,099)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(67,353)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interest expenses on lease liabilities </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(467,879)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(451,148)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(441,596)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(524,843)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(556,917)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(513,483)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,883,755)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,541,903)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,659,162)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Financial income</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash and cash equivalents and marketable securities </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,584,056</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,598,111</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,668,408</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">182,570</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">139,323</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">157,241</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,766,626</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,737,434</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,825,649</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Results from derivative financial instruments</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Income</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,033,761</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,669,394</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,149,730</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expenses</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,705,077)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(11,782,077)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,623,016)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,328,684</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(9,112,683)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,526,714</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Monetary and exchange rate variations, net</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Exchange rate variations on loans, financing and debentures</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,384,101</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(17,728,324)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,185,675</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Leases</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">304,959</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(613,124)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">180,112</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other assets and liabilities </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,138,450)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,456,455</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,278,060)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,550,610</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(15,884,993)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,087,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net financial result</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,762,165</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(28,802,145)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,780,928</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Excludes R$274,731 arising from capitalized loan costs, substantially related to property, plant and equipment in progress of the Cerrado Project for the year ended December 31, 2025 (R$959,968 as at December 31, 2024 and R$1,160,364 as at December 31,2023). </span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">On December 31, 2024, the balance of R$19 relating to transaction costs with loans and financing was recognized directly in the income statement.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Includes R$265,463 referring to the reclassification to the biological assets item for the composition of the formation cost (R$249,135 as of December 31, 2024 and R$223,055 as of December 31, 2023). </span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Includes effects of exchange rate variations of trade accounts receivable, trade accounts payable, cash and cash equivalents, marketable securities and others.</span></div> <div style="margin-bottom:6pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.123%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Financial expenses</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interest on loans, financing and debentures </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,679,047)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,453,739)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,636,730)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:middle"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Premium expenses on early settlements</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(110,060)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Amortization of transaction costs</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(101,926)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(80,099)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(67,353)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Interest expenses on lease liabilities </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(467,879)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(451,148)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(441,596)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(524,843)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(556,917)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(513,483)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,883,755)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,541,903)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,659,162)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Financial income</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Cash and cash equivalents and marketable securities </span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,584,056</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,598,111</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,668,408</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">182,570</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">139,323</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">157,241</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,766,626</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,737,434</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,825,649</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Results from derivative financial instruments</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Income</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,033,761</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,669,394</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">10,149,730</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Expenses</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,705,077)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(11,782,077)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,623,016)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,328,684</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(9,112,683)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,526,714</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Monetary and exchange rate variations, net</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Exchange rate variations on loans, financing and debentures</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"><div style="padding-left:0.85pt;padding-right:0.85pt;text-indent:16pt"><span><br/></span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,384,101</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(17,728,324)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">4,185,675</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Leases</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">304,959</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(613,124)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">180,112</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other assets and liabilities </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,138,450)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,456,455</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,278,060)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,550,610</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(15,884,993)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,087,727</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net financial result</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,762,165</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(28,802,145)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">5,780,928</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(1)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Excludes R$274,731 arising from capitalized loan costs, substantially related to property, plant and equipment in progress of the Cerrado Project for the year ended December 31, 2025 (R$959,968 as at December 31, 2024 and R$1,160,364 as at December 31,2023). </span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(2)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">On December 31, 2024, the balance of R$19 relating to transaction costs with loans and financing was recognized directly in the income statement.</span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(3)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Includes R$265,463 referring to the reclassification to the biological assets item for the composition of the formation cost (R$249,135 as of December 31, 2024 and R$223,055 as of December 31, 2023). </span></div><div style="padding-left:10.8pt;text-align:justify;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(4)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:1.32pt">Includes effects of exchange rate variations of trade accounts receivable, trade accounts payable, cash and cash equivalents, marketable securities and others.</span></div> 5679047000 4453739000 3636730000 110060000 101926000 80099000 67353000 467879000 451148000 441596000 524843000 556917000 513483000 6883755000 5541903000 4659162000 1584056000 1598111000 1668408000 182570000 139323000 157241000 1766626000 1737434000 1825649000 10033761000 2669394000 10149730000 2705077000 11782077000 4623016000 7328684000 -9112683000 5526714000 8384101000 -17728324000 4185675000 304959000 -613124000 180112000 -1138450000 2456455000 -1278060000 7550610000 -15884993000 3087727000 9762165000 -28802145000 5780928000 274731000 959968000 19000 265463000 249135000 223055 <div style="margin-bottom:11pt"><span id="i7c79c89fd57e42b1a40e084be1790e63"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">27 NET SALES </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.123%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Gross sales</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">60,463,610</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">57,017,142</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">47,601,020</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Sales deductions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Returns and cancellations</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(174,694)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(234,643)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(155,950)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Discounts and rebates</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,863,333)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,936,630)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,526,032)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">52,425,583</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">49,845,869</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">41,919,038</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Taxes on sales</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,309,904)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,442,587)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,163,463)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net sales </span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">50,115,679</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">47,403,282</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">39,755,575</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.123%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Gross sales</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">60,463,610</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">57,017,142</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">47,601,020</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Sales deductions</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Returns and cancellations</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(174,694)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(234,643)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(155,950)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Discounts and rebates</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(7,863,333)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,936,630)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,526,032)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">52,425,583</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">49,845,869</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">41,919,038</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Taxes on sales</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,309,904)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,442,587)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,163,463)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net sales </span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">50,115,679</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">47,403,282</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">39,755,575</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 60463610000 57017142000 47601020000 174694000 234643000 155950000 7863333000 6936630000 5526032000 52425583000 49845869000 41919038000 2309904000 2442587000 2163463000 50115679000 47403282000 39755575000 <div style="margin-bottom:11pt"><span id="i9ffab7af76df49a4930f426245d1db1c"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">28 SEGMENT INFORMATION</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i717df983aa5e4f7b82d57113da25f531"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">28.1 Criteria for identifying operating segments</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Board of Directors and Board of Statutory Executive Officers evaluate the performance of the Company’s business segments through the Adjusted EBITDA. The Company has revised the segment note to present Adjusted EBITDA as its performance measure.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The operating segments defined by the Company’s management are set forth below:</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(i)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.88pt">Pulp: comprised of the production and sale of hardwood eucalyptus pulp and fluff pulp, mainly to supply the foreign market.</span></div><div style="margin-bottom:6pt;padding-left:46.8pt;text-align:justify;text-indent:-25.2pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:12.3pt">Paper: comprises the production and sale of paper to meet the demands of both the domestic and foreign markets. Consumer goods (tissue) sales are classified under this segment due to their immateriality.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Information related to total assets by reportable segment is not disclosed, as it is not included in the set of information made available to the Company’s management, which makes investment decisions and determines the allocation of resources on a consolidated basis.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, with respect to geographical information related to non-current assets, the Company does not disclose such information, as all property, plant and equipment, biological and intangible assets are substantially in Brazil.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i7b5043b2414143ceacc9537cedec61d3"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">28.2 Information of operating segments</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pulp</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Paper</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net sales </span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">37,816,141</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,299,538</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50,115,679</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Domestic market (Brazil)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,786,984</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,462,804</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,249,788</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign market</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">36,029,157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,836,734</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">40,865,891</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Asia</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">17,987,863</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">45,083</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">18,032,946</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Europe</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,532,908</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">344,813</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,877,721</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">North America</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,901,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,321,114</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,222,303</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">South America and Central</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">588,451</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,069,113</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,657,564</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Africa</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">18,746</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">56,611</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">75,357</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cost of sales</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(25,321,167)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(8,568,337)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(33,889,504)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjusted EBITDA</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">18,891,646</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,844,674</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">21,736,320</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjustments to EBITDA (*)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">209,947</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation, depletion and amortization</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,297,258)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial result</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,762,165</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net income before taxes</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">20,411,174</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pulp</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Paper</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net sales </span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">37,593,462</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,809,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">47,403,282</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Domestic market (Brazil)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,295,258</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,278,586</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,573,844</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign market</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">35,298,204</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,531,234</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">37,829,438</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Asia</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,760,800</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">24,767</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,785,567</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Europe</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,895,394</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">355,784</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,251,178</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">North America</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,965,731</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">914,234</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,879,965</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">South America and Central</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">670,157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,179,840</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,849,997</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Africa</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,122</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">56,608</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">62,730</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cost of sales</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(21,261,705)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(6,139,822)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(27,401,527)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjusted EBITDA</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">20,866,160</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,983,040</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">23,849,200</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjustments to EBITDA (*)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,065,887</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation, depletion and amortization</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(9,223,995)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial result</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(28,802,145)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net income before taxes</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(13,111,053)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pulp</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Paper</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net sales </span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">30,677,265</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,078,310</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,755,575</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Domestic market (Brazil)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,144,199</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,719,093</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,863,292</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign market</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">28,533,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,359,217</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">30,892,283</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Asia</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,588,032</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">72,133</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,660,165</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Europe</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,701,141</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">302,131</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,003,272</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">North America</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,682,010</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">476,429</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,158,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">South America and Central</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">558,601</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,437,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,995,782</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Africa</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,282</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">71,343</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">74,625</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cost of sales</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(19,694,674)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(5,382,001)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(25,076,675)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjusted EBITDA</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,194,660</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,078,310</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">18,272,970</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjustments to EBITDA (*)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,264,428</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation, depletion and amortization</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(7,321,110)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial result</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,780,928</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net income before taxes</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">17,997,216</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-indent:-22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.123%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(*) Adjustments to EBITDA </span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair Value - Biological Asset </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,516,458</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,431,530</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,989,831</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Loss from associates and joint ventures </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2) (3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(409,212)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(13,845)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(19,379)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Impairment of subsidiaries </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(88,871)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Income from disposal and write-off of non-current assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(386,396)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(169,284)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(232,143)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Provision/(reversals) for losses on ICMS credits (note 9.1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(193,152)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(130,726)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(348,628)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Expenses on Asset Acquisition and Business Combinations</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(82,426)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(34,065)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(25,171)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Write-off of wood inventory</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(78,203)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(11,930)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(22,998)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Restructuring expenses</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(59,725)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,205)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(8,974)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Others </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(8,526)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,588)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(68,110)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">209,947</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,065,887</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,428</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) It includes items with specific, non-cash and exceptional adjustments, such as: i) effective loss of the development contract advance program; ii) fines and cancellation of contracts; iii) tax credits - exclusion of ICMS from the PIS and COFINS calculation basis; and iv) donations for catastrophes and pandemics.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) It includes the impact of the transaction with the associate Spinnova Plc involving the joint venture Woodspin Oy and the subsidiary Suzano Finland Oy (note 14.2).</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3) It includes the impact of the transaction with the associate Ensyn Corporation involving the joint venture F&amp;E Technologies LLC and the subsidiary F&amp;E Tecnologia do Brasil S.A. (note 14.2).</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span><br/></span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i0b4e3bd71e3d4d9a82490ca62cfbc817"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">28.3 Net sales by product</span></div><div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.123%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Products</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Market pulp </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">37,816,141</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">37,593,462</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">30,677,265</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Printing and writing paper </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,260,804</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,072,722</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,567,320</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Paperboard </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,999,186</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,676,639</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,417,075</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">39,548</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">60,459</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">93,915</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">50,115,679</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">47,403,282</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">39,755,575</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:7.15pt">Net sales of fluff pulp represent 0.7% of total net sales, and therefore were included in market pulp net sales. (0.7% as at December 31, 2024).</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:7.15pt">Net sales of tissue represent 5.7% of total net sales, and therefore were included in printing and writing paper net sales. (5.8% as at December 31, 2024).</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:7.15pt">The increase in paperboard revenue is substantially attributable to the operations of Suzano Packaging LLC, acquired on October 1, 2024.</span></div><div style="text-align:justify"><span><br/></span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to the foreign market revenues of the pulp operating segment, China and the USA are the main countries in terms of net revenue, 39.30% and 13.80%, respectively, for the year ended December 31, 2025 (China and the USA represented 36.92% and 16.08%, respectively, on December 31, 2024 and 41.36% and 15.32%, respectively, on December 31, 2023). </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With regard to the foreign market revenues of the paper operating segment, Argentina and USA, are the main countries in terms of net revenue, 5.79% and 67.53%, respectively, for the year ended December 31, 2025 (Argentina and USA represented 10.96% and 22.50% respectively, on December 31, 2024 and 23.68% and 19.49%, respectively, on December 31, 2023). The increase in revenues in the United States is primarily driven by the operations of Suzano Packaging LLC, acquired on October 1, 2024.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">There is no other individual foreign country that represents more than 10% of net revenue in the foreign market for the years ended December 31, 2025, December 31, 2024 and December 31, 2023.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="iea2c032ee3434ade9808b7fc0f390174"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">28.4 Goodwill based on expected future profitability</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The goodwill based on expected future profitability arising from the business combination was allocated to the disclosable segments, which correspond to the Company's cash-generating units (“CGUs”), considering the economic benefits generated by such intangible assets. The allocation of goodwill is set out below: </span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Pulp</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,897,051</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,897,051</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Paper</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">290,191</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">290,191</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,187,242</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,187,242</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pulp</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Paper</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net sales </span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">37,816,141</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,299,538</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">50,115,679</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Domestic market (Brazil)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,786,984</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,462,804</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,249,788</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign market</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">36,029,157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">4,836,734</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">40,865,891</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Asia</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">17,987,863</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">45,083</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">18,032,946</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Europe</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,532,908</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">344,813</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,877,721</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">North America</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,901,189</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,321,114</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">10,222,303</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">South America and Central</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">588,451</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,069,113</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,657,564</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Africa</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">18,746</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">56,611</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">75,357</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cost of sales</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(25,321,167)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(8,568,337)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(33,889,504)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjusted EBITDA</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">18,891,646</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,844,674</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">21,736,320</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjustments to EBITDA (*)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">209,947</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation, depletion and amortization</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(11,297,258)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial result</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,762,165</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net income before taxes</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">20,411,174</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pulp</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Paper</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net sales </span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">37,593,462</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,809,820</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">47,403,282</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Domestic market (Brazil)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,295,258</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,278,586</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,573,844</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign market</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">35,298,204</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,531,234</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">37,829,438</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Asia</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,760,800</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">24,767</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,785,567</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Europe</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">11,895,394</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">355,784</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">12,251,178</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">North America</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,965,731</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">914,234</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">7,879,965</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">South America and Central</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">670,157</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,179,840</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,849,997</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Africa</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,122</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">56,608</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">62,730</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cost of sales</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(21,261,705)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(6,139,822)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(27,401,527)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjusted EBITDA</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">20,866,160</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,983,040</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">23,849,200</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjustments to EBITDA (*)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,065,887</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation, depletion and amortization</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(9,223,995)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial result</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(28,802,145)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net income before taxes</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(13,111,053)</span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.697%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.255%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Pulp</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Paper</span></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Total</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net sales </span></div></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">30,677,265</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,078,310</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">39,755,575</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Domestic market (Brazil)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,144,199</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,719,093</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,863,292</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Foreign market</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">28,533,066</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">2,359,217</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">30,892,283</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Asia</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,588,032</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">72,133</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">13,660,165</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Europe</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">8,701,141</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">302,131</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">9,003,272</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">North America</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,682,010</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">476,429</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">6,158,439</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">South America and Central</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">558,601</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,437,181</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,995,782</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 37pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:36pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Africa</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,282</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">71,343</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">74,625</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cost of sales</span></div></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(19,694,674)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(5,382,001)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(25,076,675)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjusted EBITDA</span></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">15,194,660</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">3,078,310</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">18,272,970</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:middle"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjustments to EBITDA (*)</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">1,264,428</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation, depletion and amortization</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(7,321,110)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Financial result</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">5,780,928</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Display',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net income before taxes</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:700;line-height:120%">17,997,216</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="margin-bottom:10pt;padding-left:22.5pt;text-indent:-22.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.123%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(*) Adjustments to EBITDA </span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Fair Value - Biological Asset </span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,516,458</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,431,530</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,989,831</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Loss from associates and joint ventures </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2) (3)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(409,212)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(13,845)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(19,379)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Impairment of subsidiaries </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(88,871)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Income from disposal and write-off of non-current assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(386,396)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(169,284)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(232,143)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Provision/(reversals) for losses on ICMS credits (note 9.1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(193,152)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(130,726)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(348,628)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Expenses on Asset Acquisition and Business Combinations</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(82,426)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(34,065)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(25,171)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Write-off of wood inventory</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(78,203)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(11,930)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(22,998)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Restructuring expenses</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(59,725)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,205)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(8,974)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Others </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(8,526)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,588)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(68,110)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">209,947</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,065,887</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,264,428</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1) It includes items with specific, non-cash and exceptional adjustments, such as: i) effective loss of the development contract advance program; ii) fines and cancellation of contracts; iii) tax credits - exclusion of ICMS from the PIS and COFINS calculation basis; and iv) donations for catastrophes and pandemics.</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2) It includes the impact of the transaction with the associate Spinnova Plc involving the joint venture Woodspin Oy and the subsidiary Suzano Finland Oy (note 14.2).</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3) It includes the impact of the transaction with the associate Ensyn Corporation involving the joint venture F&amp;E Technologies LLC and the subsidiary F&amp;E Tecnologia do Brasil S.A. (note 14.2).</span></div> 37816141000 12299538000 50115679000 1786984000 7462804000 9249788000 36029157000 4836734000 40865891000 17987863000 45083000 18032946000 10532908000 344813000 10877721000 6901189000 3321114000 10222303000 588451000 1069113000 1657564000 18746000 56611000 75357000 25321167000 8568337000 33889504000 18891646000 2844674000 21736320000 209947000 11297258000 9762165000 20411174000 37593462000 9809820000 47403282000 2295258000 7278586000 9573844000 35298204000 2531234000 37829438000 15760800000 24767000 15785567000 11895394000 355784000 12251178000 6965731000 914234000 7879965000 670157000 1179840000 1849997000 6122000 56608000 62730000 21261705000 6139822000 27401527000 20866160000 2983040000 23849200000 1065887000 9223995000 -28802145000 -13111053000 30677265000 9078310000 39755575000 2144199000 6719093000 8863292000 28533066000 2359217000 30892283000 13588032000 72133000 13660165000 8701141000 302131000 9003272000 5682010000 476429000 6158439000 558601000 1437181000 1995782000 3282000 71343000 74625000 19694674000 5382001000 25076675000 15194660000 3078310000 18272970000 1264428000 7321110000 5780928000 17997216000 -1516458000 -1431530000 -1989831000 -409212000 -13845000 -19379000 -88871000 386396000 169284000 232143000 193152000 130726000 348628000 82426000 34065000 25171000 78203000 11930000 22998000 59725000 1205000 8974000 8526000 4588000 68110000 209947000 1065887000 1264428000 <div style="margin-bottom:5pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.123%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Products</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Market pulp </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">37,816,141</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">37,593,462</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">30,677,265</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Printing and writing paper </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,260,804</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,072,722</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,567,320</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Paperboard </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">3,999,186</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,676,639</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,417,075</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">39,548</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">60,459</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">93,915</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">50,115,679</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">47,403,282</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">39,755,575</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:7.15pt">Net sales of fluff pulp represent 0.7% of total net sales, and therefore were included in market pulp net sales. (0.7% as at December 31, 2024).</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:7.15pt">Net sales of tissue represent 5.7% of total net sales, and therefore were included in printing and writing paper net sales. (5.8% as at December 31, 2024).</span></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:7.15pt">The increase in paperboard revenue is substantially attributable to the operations of Suzano Packaging LLC, acquired on October 1, 2024.</span></div> 37816141000 37593462000 30677265000 8260804000 8072722000 7567320000 3999186000 1676639000 1417075000 39548000 60459000 93915000 50115679000 47403282000 39755575000 0.007 0.007 0.057 0.058 0.3930 0.1380 0.3692 0.1608 0.4136 0.1532 0.0579 0.6753 0.1096 0.2250 0.2368 0.1949 The allocation of goodwill is set out below: <div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:67.049%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.254%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Pulp</span></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,897,051</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">7,897,051</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 8.2pt;text-align:left;text-indent:-7.2pt;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Paper</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">290,191</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">290,191</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,187,242</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">8,187,242</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div> 7897051000 7897051000 290191000 290191000 8187242000 8187242000 <div style="margin-bottom:11pt"><span id="i814298d17bfd497eb7146dac13cf893a"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">29 INCOME (EXPENSES) BY NATURE</span></div><div style="margin-bottom:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.123%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cost of sales </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Personnel expenses</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,306,054)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,741,347)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,450,428)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Costs of raw materials, materials and services</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(13,934,386)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(11,468,545)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(10,981,883)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Logistics cost</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,194,178)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,186,872)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,341,369)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation, depletion and amortization</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(10,210,462)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(8,135,016)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,718,474)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,244,424)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(869,747)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,584,521)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(33,889,504)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(27,401,527)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(25,076,675)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Selling expenses</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Personnel expenses</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(375,408)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(330,178)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(281,673)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Services</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(244,206)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(247,585)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(173,494)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Logistics cost</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,511,160)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,288,670)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,067,031)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation and amortization</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(971,788)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(955,201)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(952,033)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(210,178)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(116,913)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(122,146)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,312,740)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,938,547)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,596,377)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">General and administrative expenses</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Personnel expenses</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,720,229)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,661,843)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,172,538)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Services</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(595,948)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(503,086)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(406,001)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation and amortization</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(129,135)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(143,600)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(118,771)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(344,842)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(311,315)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(225,918)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,790,154)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,619,844)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,923,228)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other operating (expenses) income, net</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Results from sales of other products, net</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">44,225</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">80,005</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">83,017</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net result on disposal and write-off of non-current assets</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(386,396)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(163,033)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(331,285)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Result on fair value adjustment of biological assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,516,458</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,431,530</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,989,831</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation, amortization and other PPA realizations </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14,127</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,822</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">468,168</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Provision for judicial liabilities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(153,988)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(148,952)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(167,563)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other operating income (expenses), net</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(99,486)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">52,201</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">34,204</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">934,940</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,261,573</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,076,372</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:72pt;text-indent:-22.5pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(i)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:15.3pt">Includes R$680,209 related to maintenance downtime, costing (R$587,345 as at December 31, 2024 and R$650,592 as at December 31, 2023).</span></div><div style="padding-left:72pt;text-indent:-22.5pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:13.5pt">Includes expected credit losses, insurance, materials for use and consumption, travel, accommodation, trade fairs and events.</span></div><div style="padding-left:72pt;text-indent:-22.5pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:11.7pt">Includes, substantially, corporate expenses, insurance, materials for use and consumption, social programs and donations, travel and accommodation.</span></div><div style="padding-left:72pt;text-indent:-22.5pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:11.69pt">Refers, substantially, to the write-off of contingent liabilities assumed in Fibria's PPA as disclosed in note 20.1.</span></div> <div style="margin-bottom:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.805%"><tr><td style="width:1.0%"></td><td style="width:51.123%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.251%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.373%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.256%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2025</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2024</span></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">12/31/2023</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Cost of sales </span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:700;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</span></div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Personnel expenses</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,306,054)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,741,347)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,450,428)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Costs of raw materials, materials and services</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(13,934,386)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(11,468,545)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(10,981,883)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Logistics cost</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,194,178)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(5,186,872)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(4,341,369)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation, depletion and amortization</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(10,210,462)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(8,135,016)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(6,718,474)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,244,424)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(869,747)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,584,521)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(33,889,504)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(27,401,527)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(25,076,675)</span></div></td><td style="background-color:#ffffff;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Selling expenses</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Personnel expenses</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(375,408)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(330,178)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(281,673)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Services</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(244,206)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(247,585)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(173,494)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Logistics cost</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,511,160)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,288,670)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,067,031)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation and amortization</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(971,788)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(955,201)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(952,033)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(210,178)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(116,913)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(122,146)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(3,312,740)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,938,547)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,596,377)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">General and administrative expenses</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Personnel expenses</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,720,229)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,661,843)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,172,538)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Services</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(595,948)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(503,086)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(406,001)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation and amortization</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(129,135)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(143,600)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(118,771)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(344,842)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(311,315)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(225,918)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,790,154)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(2,619,844)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(1,923,228)</span></div></td><td style="background-color:#ebebeb;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Other operating (expenses) income, net</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #494949;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Results from sales of other products, net</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">44,225</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">80,005</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">83,017</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Net result on disposal and write-off of non-current assets</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(386,396)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(163,033)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(331,285)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Result on fair value adjustment of biological assets</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,516,458</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,431,530</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,989,831</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Depreciation, amortization and other PPA realizations </span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(4)</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">14,127</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">9,822</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">468,168</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Provision for judicial liabilities</span></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(153,988)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(148,952)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(167,563)</span></div></td><td style="background-color:#ebebeb;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 26.2pt;text-align:left;text-indent:-10.8pt;vertical-align:bottom"><div style="margin-bottom:12pt;padding-left:25.2pt;text-indent:-10.8pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Other operating income (expenses), net</span></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">(99,486)</span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">52,201</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">34,204</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr><tr><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">934,940</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">1,261,573</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td><td colspan="3" style="background-color:#ebebeb;padding:0 1pt"></td><td colspan="2" style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:700;line-height:120%">2,076,372</span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </span></div></td><td style="background-color:#ebebeb;border-bottom:3pt double #494949;border-top:1pt solid #494949;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><div style="margin-bottom:12pt;text-align:right"></div></td></tr></table></div><div style="padding-left:72pt;text-indent:-22.5pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(i)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:15.3pt">Includes R$680,209 related to maintenance downtime, costing (R$587,345 as at December 31, 2024 and R$650,592 as at December 31, 2023).</span></div><div style="padding-left:72pt;text-indent:-22.5pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(ii)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:13.5pt">Includes expected credit losses, insurance, materials for use and consumption, travel, accommodation, trade fairs and events.</span></div><div style="padding-left:72pt;text-indent:-22.5pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(iii)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:11.7pt">Includes, substantially, corporate expenses, insurance, materials for use and consumption, social programs and donations, travel and accommodation.</span></div><div style="padding-left:72pt;text-indent:-22.5pt"><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%">(iv)</span><span style="color:#494949;font-family:'Suzano Text',sans-serif;font-size:7pt;font-weight:400;line-height:120%;padding-left:11.69pt">Refers, substantially, to the write-off of contingent liabilities assumed in Fibria's PPA as disclosed in note 20.1.</span></div> 2306054000 1741347000 1450428000 13934386000 11468545000 10981883000 6194178000 5186872000 4341369000 10210462000 8135016000 6718474000 1244424000 869747000 1584521000 33889504000 27401527000 25076675000 375408000 330178000 281673000 244206000 247585000 173494000 1511160000 1288670000 1067031000 971788000 955201000 952033000 210178000 116913000 122146000 3312740000 2938547000 2596377000 1720229000 1661843000 1172538000 595948000 503086000 406001000 129135000 143600000 118771000 344842000 311315000 225918000 2790154000 2619844000 1923228000 -44225000 -80005000 -83017000 386396000 163033000 331285000 -1516458000 -1431530000 -1989831000 14127000 9822000 468168000 -153988000 -148952000 -167563000 99486000 -52201000 -34204000 934940000 1261573000 2076372000 -680209000 -587345000 -650592000 <div style="margin-bottom:11pt"><span id="ic64683b2015a47e3aae693d7465aa10b"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">30 INSURANCE COVERAGE</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has insurance coverage for operational risks, with a maximum coverage of US$1,225,000 corresponding to R$6,740,440. Additionally, the Company has insurance coverage for civil general liabilities in the amount of US$20,000 corresponding to R$110,048 as of December 31, 2025.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's Management considers these amounts adequate to cover any potential liabilities, risks and damage to its assets, and any loss of profits. The Company does not have insurance coverage for its forests. To mitigate the risk of fire, the Company maintains internal fire brigades, a watchtower network, and a fleet of fire trucks. There is no history of material losses arising from forest fires. </span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company has a domestic transportation insurance policy with a maximum coverage of R$60,000 and international policy in the amount of US$75,000 corresponding to R$412,680, effective through May</span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 2027, and renewable for an additional 18 months. </span></div><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to the coverages mentioned above, the Company maintains </span><span style="background-color:#ffffff;color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> insurance for civil re</span>sponsibility of Directors and Executives (“D&amp;O”), product liability insurance, motor vehicle liability insurance, credit risk insurance for customers in the domestic and international markets, as well as life insurance and health insurance. 1225000000 6740440000 20000000 110048000 60000000 75000000 412680000 <div style="margin-bottom:11pt"><span id="i116d22b71fac4bbba2427b5759c277c1"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">31 EVENTS AFTER THE REPORTING PERIOD</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i3ae5358833d54cda8a9f4589467d7b80"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">31.1 Credit facility arrangement</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On 5 February 2026, the Company completed the arrangement of a new revolving credit facility through its subsidiary Suzano International Finance B.V., replacing the revolving credit facility in place since February 2022 and increasing the total amount available under revolving credit facilities from US$1,275,000 to US$1,775,000 (equivalent to R$9,766,760). The new facility aims to further strengthen the Company’s already robust liquidity position, providing greater cash flexibility over the coming years.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The total committed amount of US$1,775,000 is available until February 2031. The commitment fee, in the event the facility is not drawn, is 0.27% p.a. If drawn, the facility bears interest at SOFR plus 0.90% p.a.</span></div><div style="margin-bottom:10pt;padding-left:54pt;text-indent:-54pt"><span id="i6b1e7dc786454ba49a6489d19a15c215"></span><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:700;line-height:120%">31.2 Share buyback program</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 10, 2026, the Board of Directors approved the new share buyback program, under which the Company may acquire up to a maximum of 40,000,000 (forty million) common shares of its own issuance, within a maximum period of 18 months.</span></div><div style="margin-bottom:10pt;text-align:justify"><span style="color:#000000;font-family:'Suzano Text',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The transactions will be carried out on B3, at market prices, at the Company’s discretion, taking into account the market price of its shares. The shares acquired may be held in treasury, canceled, and/or subsequently sold.</span></div> 1275000 1775000 9766760 1775000 0.0027 0.0090 40000000 P18M