Company: SUZ
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001628280-25-020368
Chunk: 219

Company: Suzano S.A.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 19
Chunk 219
---
 out derivative instruments linked to the US$ 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.

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.

This analysis below assumes that all other variables, particularly the interest rates, remain constant. The other scenarios considered the depreciation of the Brazilian Real against the US$ by 25 50

The following table set out the possible impacts assuming these scenarios:

                                                             12/31/2024                                                                       
                                                             Effect on profit or loss                                                         
                                                             Probable (base value)                                                            
  Dollar/Real                                                                                                                                 
  Derivative financial instruments                                                                                                            
  Derivative options                                                                       ( 4,328,970)      ( 9,226,995)      ( 19,121,860)  
  Derivative swaps                                                                         ( 1,843,087)      ( 2,604,422)       ( 4,992,835)  
  Derivative Non-Deliverable Forward (‘ NDF’) Contracts                                      ( 331,876)        ( 896,742)       ( 1,788,477)  
  Embedded derivatives                                                                        ( 80,759)        ( 183,663)         ( 367,326)  
  Commodity Derivatives                                                                          16,973             4,236              8,478  

4.4.2 Interest rate risk management

Fluctuations in interest rates could increase or reduce the costs of new loans and existing contracted operations.

  F-36  

Table of Contents

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.

4.4.2.1 Sensitivity analysis - exposure to interest rates - except for derivative financial instruments

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.

The probable scenario represents the amounts already booked, as they reflect Management’s best estimates.

This analysis assumes that all other variables, particularly