Company: SUZ
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001628280-25-020368
Chunk: 177

Company: Suzano S.A.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 11
Chunk 177
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 the global market, as well as the macroeconomic conditions may impact our operational results.

We cannot guarantee that prices will remain at levels that are beneficial to our results. We may use financial instruments to mitigate the sales price of part of the production, but in certain cases the employment of price protection for pulp may not be available.

We are also exposed to international oil prices, reflected in the logistical costs of transportation and commercialization.

On December 31, 2024, we held a long position in VLSFO (very-low sulfur fuel oil) and Brent Crude Oil in the notional amount of US$203.6 million to hedge its logistics costs.

Table of Co ntents

Sensitivity Analysis - Exposure to Commodity Prices

                                     December 31, 2024                                                              
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                     As of                    Effect on income                                      
                                     Probable                 Possible increase (+25%)      Remote increase (+50%)  
                                     (in millions of R$)                                                            
  Oil derivatives (Brent/VLSFO)      17.0                     231.7                         503.5                   

Derivatives by Contract Type

For the open positions of derivatives negotiated in the over-the-counter market, grouped by class of asset and reference index as of December 31, 2024, 2023, see note 4.5. of our audited consolidated financial statements, included in this Annual Report.

ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES