Company: SUZ
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001628280-25-020368
Chunk: 223

Company: Suzano S.A.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 19
Chunk 223
---
(xii) 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.

(xiii) 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.

The variation in the fair values of derivatives on December 31, 2024 compared to the fair values measured on December 31, 2023 are explained substantially by the depreciation of the Brazilian Real against the US$ and by settlements during the year.

There were also impacts caused by the variations in the Pre Fixed, Foreign Exchange Coupon and SOFR curves in the operations.

It is important to highlight that the outstanding agreements on December 31, 2024 are over-the-counter market operations, without any type of collateral margin or forced early settlement clause due to variations from market marking.

  F-41  

Table of Contents

4.5.2 Fair Value Maturity Schedule (net amounts)

                                      12/31/2023                  
          2025      ( 1,753,846)                       2,097,763  
          2026      ( 1,699,768)                         233,072  
          2027         ( 36,905)                      ( 574,871)  
  2028 onwards      ( 3,077,201)                         238,418  
                    ( 6,567,720)      1,994,382                   

  F-42  

Table of Contents

4.5.3 Outstanding assets and liabilities derivatives positions

The outstanding derivatives positions are set forth below:

                                                                                   Fair value in R$                                                        
                                       Currency                                    12/31/2024                                12/31/2023                    
  Debt hedges                                                                                                                                              
  Assets                                                                                                                                                   
  Swap CDI to Fixed                    US$           4,748,394      3,898,011                               1,482,759                             223,776  
  Swap Pre-Fixed to US$                US$                            738,800                                                                              
  Swap SOFR to Fixed                   US$           1,