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 in accordance with the corporate governance practices adopted by the Company, as well as those recommended and/or required by the applicable legislation.

The transactions refers mainly to:

Assets: (i) accounts receivable from the sale of pulp, paper, tissue and other products; (ii) dividends receivable; (iii) reimbursement for expenses; and (iv) social services;

Liabilities: (i) loan agreements;(ii) reimbursement for expenses; (iii) social services; (iv) real estate consulting; and (v) dividends payable.

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.

For the three-month period ended March 31, 2026, 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, As disclosed in the financial statements for the year ended December 31, 2025.

15.1 Balances recognized in assets and liabilities and amounts of transactions during the year


	Assets		Liabilities		Sales (purchases), net
	03/31/2026	12/31/2025	03/31/2026	12/31/2025	03/31/2026	03/31/2025
Transactions with majority shareholders
Suzano Holding S.A.	19		(1,674)	(412,146)	25	12
Controller			(893)	(219,817)
Related persons			(146)	(36,053)
Alden Fundo de Investimento em Ações			(124)	(30,444)
	19		(2,837)	(698,460)	25	12

Transactions with companies of the Suzano Group and other related parties
Management	283	914			224	117
Bexma Participações Ltda.	7	6			3	1

Naman Capital Ltda.	9				1	1
Civelec Participações Ltda.	2,895	2,895
Fundação Arymax	8	5			4
Ibema Companhia Brasileira de Papel (1)	60,430	68,209	(1,410)	(658)	35,148	49,430
Instituto Ecofuturo - Futuro para o Desenvolvimento Sustentável	1	2			(1)	(1,472)
IPLF Holding S.A.	1				1	2
Mabex Representações e Participações Ltda.			(338)	(16)	(709)	(600)
Nemonorte Imóveis e Participações Ltda.			(15)	(7)	(1,167)	(45)
Woodspin Oy					(321)	182
	63,634	72,031	(1,763)	(681)	33,183	47,616
	63,653	72,031	(4,600)	(699,141)	33,208	47,628

Assets
Trade accounts receivable (Note 11)	60,430	68,209
Other assets	3,223	3,822
Liabilities
Trade accounts payable (Note 21)			(1,763)	(681)
Dividends payable			(2,837)	(698,460)
	63,653	72,031	(4,600)	(699,141)

(1)Refers mainly to the sale of pulp.

15.2 Management compensation

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 period, are set out below:


	03/31/2026	03/31/2025
Short-term benefits
Salary or compensation	7,757	14,155
Direct and indirect benefits	304	328
Bonus	3,753	11,999
	11,814	26,482
Long-term benefits
Share-based compensation plan	11,870	26,821
	11,870	26,821
Payroll charges
Payroll charges	7,500	24,219
	31,184	77,522

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).

Long-term benefits include the stock option plan and phantom shares for executives and key members of Management, in accordance with the specific regulations disclosed in Note 26.