Suzano S.A.

Ladies and gentlemen, thank you for holding and welcome to Suzana's conference call to discuss the results of the second quarter of 2026. We would like to inform that all participants will be in a listen-only mode during the presentation that will be addressed by the CEO, Mr. Beto Abreu, and other executive officers. This call will be presented in English with simultaneous translation to Portuguese. To change the audio, you can press the globe icon on the lower right side of your Zoom screen and then choose the Enter the Portuguese Room. After that, you can select Mute Original Audio. Before proceeding, please be aware that any forward-looking statements are based on the beliefs and assumptions of Susana's management and on information currently available to the company. They involve risks, uncertainties and assumptions because they relate to the future events and therefore depend on the circumstances that may or may not occur in the future. You should understand that general economic conditions, industrial conditions and other operating factors could also affect the future results of Suzano and could cause results different materially from those expressed in such far-looking statements. Now, I will turn the conference over to Mr. Beto Abreu. Please, you may begin your presentation.

Hi, everyone. Thank you for attending our second quarter result call. I want to start with the highlights of the following three points. The first one, we reported solid operation results with a strong free cash flow. Once again, showing resilience of the business, even with a more volatile geopolitical conditions. The second point that I also would like to highlight is that on July 1st we had the ABEX closing, fully aligned with what we had previously expected in terms of timeline. The governance and the management team is already 100% in place and now we will focus on the integration and on capturing efficiency gains of this new organization. The third point, I also would like to say that Susana will keep the focus on reducing the TOD, the Total Operational Disbursing, and of course on deleveraging the business. I also want to take the opportunity to say that today is the last call for Aries Galhardo, our vice president for the industry operation and also engineering. Aries is leaving a legacy of major achievements of Suzano. and we all want to wish him every success in his next journey. So thank you very much, Aires. On the next call, we will also have, we already have Carlos Anibal as the company's industrial engineering executive vice president. Carlos has been with us for 23 years already. has previously held the roles of paper business vice president, commercial vice president, and also a forestry vice president. So huge experience in many areas of the company. And he has been both a supplier and a customer to the industrial area. So we wish him great success in his new cycle. Very welcome, Carlos. Having said that, I will turn over to Fabio to talk about the paper business.

Thanks, Beto. Good morning, everyone. Please let's turn to the next slide. Our second quarter performance reflected higher sales volumes and prices, as well as lower SG&A on a quarter-over-quarter basis. These positive factors were offset by inflationary pressures on wood and oil-related products and logistics, as well as longer-than-expected ramp-ups following our annual maintenance downtime in Pine Bluff Mill. Looking at our addressable markets in Brazil, print and write demand, according to IBA, remained stable in the second quarter compared to the same period of last year. On a quarter-over-quarter basis, the 4% growth was driven by seasonality and higher demand for quoted papers, benefiting from increased promotional and communication-related activity ahead of this year's elections. On such contexts, SUSANO domestic print and write volumes grew 4% on a year-over-year basis and 10% on a quarter-over-quarter basis. In the export markets, print and write demand declined 4% year-over-year in the U.S. and Europe, according to PPVC. Latin America showed stability, led by an increase in participation of Asian players in the region. Now looking at paper board, Demanding Brazil grew 8% in the second quarter when compared to the same period of last year and grew 11% against the first quarter. We noticed some customer inventory build up in the first half of the year, ahead of the implementation of paper board price increases. Against this backdrop, SUSANO domestic paper board volumes grew 11% on a year-over-year basis and 28% on a quarter-over-quarter basis. In the U.S., according to FP&A's data, SBS shipments grew by 11% year-over-year, Albeit at an operating rate around 82%, which is softer year-over-year and stable quarter-over-quarter. Adjusting for recent capacity closure of Smurfit West Rock Latuk Mill, Clearwater Cypress Bend capacity reduction, and the interruption of operations at the Nippondine Wave Facility, operating rates increased to 90% and should support better market dynamics in the second half of the year. Our Suzano packaging sales volumes were quite stable on quarter-over-quarter and year-over-year basis. Turning to the EBITDA performance, our Brazilian operations improved 28% on a quarter-over-quarter basis, with higher volumes and better prices domestically and from our exports, despite unfavorable FX. Compared to second quarter 2025, the EBITDA from our Brazilian operations declined 20% due to lower price, export volumes, and FX. Suzano Packaging EBITDA was impacted by the scheduled maintenance outage in May and operational instability returning from the outage, as well as increased costs due to the ongoing Middle East conflict, especially in oil-related inputs, mainly resins and logistics. Looking ahead to Suzano's paper packaging business performance, sales volumes from Brazilian operations tend to improve across both domestic and export markets, giving historical seasonality for the quarter. In the U.S., we start Q3 with a strong order book with improvements and supply and demand dynamics. We remain focused on managing inflationary pressures related to the Middle East conflict, mailing and resin, and logistics. Through initiatives already implemented or currently underway, we expect to mitigate most of these impacts going forward. Now I'll hand over to Leo, who will be presenting our pop business results.