# EDGAR Filing Document

**Accession Number:** 0000909327
**File Stem:** 0000909327-26-000050
**Filing Date:** 2026-4
**Character Count:** 183625
**Document Hash:** 1e3d6e15c4575b1082b2b983861dd9f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000909327-26-000050.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0000909327-26-000050

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 153

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Suzano S.A.
- **CENTRAL INDEX KEY:** 0000909327
- **STANDARD INDUSTRIAL CLASSIFICATION:** PAPER MILLS [2621]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38755
- **FILM NUMBER:** 26917668

**BUSINESS ADDRESS:**
- **STREET 1:** AV. PROFESSOR MAGALHAES NETO, 1,752
- **STREET 2:** 10TH FLOOR, ROOMS 1010 AND 1011
- **CITY:** SALVADOR - BA
- **STATE:** D5
- **ZIP:** 41 810-012
- **BUSINESS PHONE:** 551121384588

**MAIL ADDRESS:**
- **STREET 1:** AV. BRIGADEIRO FARIA LIMA, 1,355
- **STREET 2:** 7TH FLOOR
- **CITY:** PINHEIROS, SAO PAULO - SP
- **STATE:** D5
- **ZIP:** 01 452-919

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Suzano Papel e Celulose S.A.
- **DATE OF NAME CHANGE:** 20180322

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COMPANHIA SUZANO DE PAPEL E CELULOSE                    /FI
- **DATE OF NAME CHANGE:** 19930719

?xml version='1.0' encoding='ASCII'? suz-20260331

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549**

**FORM 6-K**

**REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934**

**For the month of April, 2026.**

**Commission File Number 001-38755**

**Suzano S.A.**(Exact name of registrant as specified in its charter)

**SUZANO INC.** (Translation of Registrant's Name into English)

**Av. Professor Magalhaes Neto, 1,752 10th Floor, Rooms 1010 and 1011 Salvador, Brazil 41 810-012** (Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☑&nbsp;&nbsp;&nbsp;&nbsp;Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

------

**INCORPORATION BY REFERENCE**

This report is incorporated by reference in our registration statements on <u>[Form F-3 filed with the U.S. Securities and Exchange Commission on April 30, 2025 (File No. 333-286881, 333-286881-01 and 333-286881-02)](https://www.sec.gov/Archives/edgar/data/909327/000110465925042824/tm2513301d1_f3asr.htm)</u>, and shall be deemed to be a part thereof from the date on which this report is furnished to the SEC, to the extent not superseded by documents or reports subsequently filed or furnished.

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**INDEX** 

---

| | |
|:---|:---|
| &nbsp;&nbsp;[CONSOLIDATED STATEMENTS OF INCOME (LOSS)](#i014312f7339b43f78d9fea473b5e2356) | &nbsp;&nbsp;[1](#i014312f7339b43f78d9fea473b5e2356) |
| &nbsp;&nbsp;[CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)](#i347952de90ad47a08e769f6935883e04) | &nbsp;&nbsp;[2](#i347952de90ad47a08e769f6935883e04) |
| &nbsp;&nbsp;[CONSOLIDATED BALANCE SHEET](#i7a25f53bc08c4c7baeee3d83bc0f066b) | &nbsp;&nbsp;[3](#i7a25f53bc08c4c7baeee3d83bc0f066b) |
| &nbsp;&nbsp;[CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY](#i6d84cbe907324f6e8f689807e8102831) | &nbsp;&nbsp;[5](#i6d84cbe907324f6e8f689807e8102831) |
| &nbsp;&nbsp;[CONSOLIDATED STATEMENTS OF CASH FLOW](#if29fc9a93d06493d8bc1abcb64117ac9) | &nbsp;&nbsp;[6](#if29fc9a93d06493d8bc1abcb64117ac9) |
| &nbsp;&nbsp;&nbsp;&nbsp;[1 COMPANY'S OPERATIONS](#if354aeb4f48d44b495c3c64a5e1e4cdf) | &nbsp;&nbsp;[8](#if354aeb4f48d44b495c3c64a5e1e4cdf) |
| &nbsp;&nbsp;&nbsp;&nbsp;[2 BASIS OF PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS](#ib7e4b6eab88a4558a7d9c8bb0785d64a) | &nbsp;&nbsp;[11](#ib7e4b6eab88a4558a7d9c8bb0785d64a) |
| &nbsp;&nbsp;&nbsp;&nbsp;[3 SUMMARY OF MATERIAL ACCOUNTING POLICIES](#ie13d3ffe3cc14b5c8c1204d7152d29d0) | &nbsp;&nbsp;[12](#ie13d3ffe3cc14b5c8c1204d7152d29d0) |
| &nbsp;&nbsp;&nbsp;&nbsp;[4 FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT](#i476a47a3e17e4b8382d165acb5924869) | &nbsp;&nbsp;[13](#i476a47a3e17e4b8382d165acb5924869) |
| &nbsp;&nbsp;&nbsp;&nbsp;[5 SEGMENT INFORMATION](#i6accecb0e1b341318fd78cb7f1b3c01c) | &nbsp;&nbsp;[21](#i6accecb0e1b341318fd78cb7f1b3c01c) |
| &nbsp;&nbsp;&nbsp;&nbsp;[6 NET SALES](#ia4a04f902a26465d9013db979b69ad4d) | &nbsp;&nbsp;[23](#ia4a04f902a26465d9013db979b69ad4d) |
| &nbsp;&nbsp;&nbsp;&nbsp;[7 INCOME (EXPENSES) BY NATURE](#i978c581c9001469bb4a2f7360379d92e) | &nbsp;&nbsp;[24](#i978c581c9001469bb4a2f7360379d92e) |
| &nbsp;&nbsp;&nbsp;&nbsp;[8 NET FINANCIAL RESULT](#i03dda2d558e9422f9d97daaf6102a43c) | &nbsp;&nbsp;[25](#i03dda2d558e9422f9d97daaf6102a43c) |
| &nbsp;&nbsp;&nbsp;&nbsp;[9 CASH AND CASH EQUIVALENTS](#i533831fd85c043b89a534a3ae185f9e4) | &nbsp;&nbsp;[25](#i533831fd85c043b89a534a3ae185f9e4) |
| &nbsp;&nbsp;&nbsp;&nbsp;[10 MARKETABLE SECURITIES](#i5024c3ca29584c309dd0a22a144a6dd3) | &nbsp;&nbsp;[26](#i5024c3ca29584c309dd0a22a144a6dd3) |
| &nbsp;&nbsp;&nbsp;&nbsp;[11 TRADE ACCOUNTS RECEIVABLE](#i97c246f0d7eb4e39a2315706a3edf4bc) | &nbsp;&nbsp;[26](#i97c246f0d7eb4e39a2315706a3edf4bc) |
| &nbsp;&nbsp;&nbsp;&nbsp;[12 INVENTORIES](#i74c62fe5637d4f9b82708e630bfdda53) | &nbsp;&nbsp;[28](#i74c62fe5637d4f9b82708e630bfdda53) |
| &nbsp;&nbsp;&nbsp;&nbsp;[13 RECOVERABLE TAXES](#iaaf6105ec6e248359cc3ea050c5725d4) | &nbsp;&nbsp;[29](#iaaf6105ec6e248359cc3ea050c5725d4) |
| &nbsp;&nbsp;&nbsp;&nbsp;[14 ADVANCES TO SUPPLIERS](#i8ed8168e893248aba1368b1820596777) | &nbsp;&nbsp;[30](#i8ed8168e893248aba1368b1820596777) |
| &nbsp;&nbsp;&nbsp;&nbsp;[15 RELATED PARTIES](#ia477c4cd13df46eba3802f9cab2af943) | &nbsp;&nbsp;[30](#ia477c4cd13df46eba3802f9cab2af943) |
| &nbsp;&nbsp;&nbsp;&nbsp;[16 INCOME AND SOCIAL CONTRIBUTION TAXES](#ia523255600aa482a920451a288598e60) | &nbsp;&nbsp;[32](#ia523255600aa482a920451a288598e60) |
| &nbsp;&nbsp;&nbsp;&nbsp;[17 BIOLOGICAL ASSETS](#i8df45f095a964504843d0eed6641748c) | &nbsp;&nbsp;[36](#i8df45f095a964504843d0eed6641748c) |
| &nbsp;&nbsp;&nbsp;&nbsp;[18 INVESTMENTS](#i4c156f088dcf4de0af0c2cf934f8a480) | &nbsp;&nbsp;[37](#i4c156f088dcf4de0af0c2cf934f8a480) |
| &nbsp;&nbsp;&nbsp;&nbsp;[19 PROPERTY, PLANT AND EQUIPMENT&nbsp;&nbsp;&nbsp;&nbsp;](#i1d8decc581ab491a896bb6492304dea0) | &nbsp;&nbsp;[38](#i1d8decc581ab491a896bb6492304dea0) |
| &nbsp;&nbsp;&nbsp;&nbsp;[20 INTANGIBLE](#i448aa38614a04b4bb817698b7a04beac) | &nbsp;&nbsp;[39](#i448aa38614a04b4bb817698b7a04beac) |
| &nbsp;&nbsp;&nbsp;&nbsp;[21 TRADE ACCOUNTS PAYABLE](#i393bb7b063474f3f8dc2400091078d63) | &nbsp;&nbsp;[40](#i393bb7b063474f3f8dc2400091078d63) |
| &nbsp;&nbsp;&nbsp;&nbsp;[22 LOANS, FINANCING AND DEBENTURES](#i5bc792af65e94debb1e1cdfcf310562a) | &nbsp;&nbsp;[41](#i5bc792af65e94debb1e1cdfcf310562a) |
| &nbsp;&nbsp;&nbsp;&nbsp;[23 LEASES](#ie22bb50d24a54d99891ef6145f2e7a11) | &nbsp;&nbsp;[44](#ie22bb50d24a54d99891ef6145f2e7a11) |
| &nbsp;&nbsp;&nbsp;&nbsp;[24 PROVISION FOR JUDICIAL LIABILITIES](#i65a2f31a575d45ce945bb47cf7171e5e) | &nbsp;&nbsp;[45](#i65a2f31a575d45ce945bb47cf7171e5e) |
| &nbsp;&nbsp;&nbsp;&nbsp;[25 EMPLOYEE BENEFIT PLANS](#iff37edaac9f74a0d9c2ee2000b9f4e52) | &nbsp;&nbsp;[47](#iff37edaac9f74a0d9c2ee2000b9f4e52) |
| &nbsp;&nbsp;&nbsp;&nbsp;[26 SHARE-BASED COMPENSATION PLAN](#i592b823c129446b98d4b65361affc8a8) | &nbsp;&nbsp;[48](#i592b823c129446b98d4b65361affc8a8) |
| &nbsp;&nbsp;&nbsp;&nbsp;[27 SHAREHOLDERS' EQUITY](#if8618621bf0448f7b1aa43a7a62cc1e4) | &nbsp;&nbsp;[49](#if8618621bf0448f7b1aa43a7a62cc1e4) |
| &nbsp;&nbsp;&nbsp;&nbsp;[28 EARNINGS PER SHARE](#i85da386fa9fd434c9187972986747e7f) | &nbsp;&nbsp;[50](#i85da386fa9fd434c9187972986747e7f) |
| &nbsp;&nbsp;&nbsp;&nbsp;[29 EVENTS AFTER THE REPORTING PERIOD](#ifc82698898e64303af36c72871d6c5f9) | &nbsp;&nbsp;[51](#ifc82698898e64303af36c72871d6c5f9) |

---

![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg)<br>

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Three-month period ended March 31, 2026 | ![Capturar.jpg](suz-20260331_g1.jpg) |
| (In thousands of R$, unless otherwise stated) | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**CONSOLIDATED STATEMENTS OF INCOME (LOSS)**

---

| | | | |
|:---|:---|:---|:---|
| | **Note** | **03/31/2026** | **03/31/2025** |
| **NET SALES** | **6** | **10968416**  | 11552921  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of sales | **7** | **(7807576)** | (7729167) |
| **GROSS PROFIT** |  | **3160840**  | **3823754**  |
| **OPERATING (EXPENSES) INCOME** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Selling  | **7** | **(752044)** | (754882) |
| &nbsp;&nbsp;&nbsp;&nbsp;General and administrative  | **7** | **(682803)** | (673551) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss from associates and joint ventures  | **18** | **(20372)** | (17077) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other operating (expenses) income, net | **7** | **69515**  | (119209) |
| **OPERATING PROFIT BEFORE NET FINANCIAL INCOME** |  | **1775136**  | **2259035**  |
| **NET FINANCIAL INCOME (EXPENSES)** | **8** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial expenses  |  | **(1804931)** | (1640085) |
| &nbsp;&nbsp;&nbsp;&nbsp;Financial income  |  | **486013**  | 438853  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative financial instruments, net |  | **3025599**  | 3693159  |
| &nbsp;&nbsp;&nbsp;&nbsp;Monetary and exchange variations, net |  | **2909755**  | 5204286  |
| **NET INCOME BEFORE TAXES** |  | **6391572**  | **9955248**  |
| **Income and social contribution taxes** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current  | **16** | **87537**  | (67100) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred  | **16** | **(2167118)** | (3539970) |
| **NET INCOME FOR THE PERIOD** |  | **4311991**  | **6348178**  |
| **Attributable to** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Controlling shareholders' |  | **4305404**  | 6340760  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-controlling interest |  | **6587**  | 7418  |
| **Earnings per share** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic  | **28.1** | **3.48357**  | 5.11735  |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted  | **28.2** | **3.47504**  | 5.10429  |

---

The accompanying notes are an integral part of this unaudited condensed consolidated interim financial information.

---

| |
|:---|
| **1** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Three-month period ended March 31, 2026 | ![Capturar.jpg](suz-20260331_g1.jpg) |
| (In thousands of R$, unless otherwise stated) | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **03/31/2025** |
| **Net income for the period** | **4311991**  | **6348178**  |
| **Other comprehensive income (loss)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value investments in equity measured at fair value through other comprehensive income <sup>(1)</sup> | **12527**  | (87077) |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax effect on the fair value of investments | **611**  | 683  |
| **Items with no subsequent effect on income (loss)** | **13138**  | **(86394)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange rate variations on conversion of financial information of the subsidiaries abroad (2) | **(103396)** | (113060) |
| **Items with subsequent effect on income (loss)** | **(103396)** | **(113060)** |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total comprehensive income** | **4221733**  | **6148724**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Attributable to** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Controlling shareholders' | **4215146**  | 6141306  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-controlling interest | **6587**  | 7418  |

---

(1) Includes the fair value arising from the measurement of Lenzing Aktiengesellschaft. In the quarter ended March 31, 2026, the fair value effect amounted to R$14,324. In the three-month period ended March 31, 2025, the fair value effect amounted to R$(85,067).

(2) Includes the principal amounts related to Suzano Packaging LLC and Lenzing Aktiengesellschaft.

The accompanying notes are an integral part of this unaudited condensed consolidated interim financial information.

---

| |
|:---|
| **2** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Three-month period ended March 31, 2026 | ![Capturar.jpg](suz-20260331_g1.jpg) |
| (In thousands of R$, unless otherwise stated) | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**CONSOLIDATED BALANCE SHEET**

---

| | | | |
|:---|:---|:---|:---|
| | **Note** | **03/31/2026** | **12/31/2025** |
| **ASSETS** | | | |
| &nbsp;&nbsp;&nbsp;**CURRENT** | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | **9** | **12176019**  | 15179753  |
| &nbsp;&nbsp;&nbsp;&nbsp;Marketable securities | **10** | **10173578**  | 9932774  |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade accounts receivable | **11** | **5766623**  | 6560607  |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | **12** | **8641417**  | 8155847  |
| &nbsp;&nbsp;&nbsp;&nbsp;Recoverable taxes | **13** | **946762**  | 887085  |
| &nbsp;&nbsp;&nbsp;&nbsp;Recoverable income taxes  | **13** | **726731**  | 659202  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative financial instruments | **4.5** | **2907968**  | 1556978  |
| &nbsp;&nbsp;&nbsp;&nbsp;Advances to suppliers | **14** | **73267**  | 76818  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets |  | **819181**  | 858005  |
| &nbsp;&nbsp;&nbsp;**Total current assets** |  | **42231546**  | **43867069**  |
| &nbsp;&nbsp;&nbsp;**NON-CURRENT** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Marketable securities | **10** | **330137**  | 319680  |
| &nbsp;&nbsp;&nbsp;&nbsp;Recoverable taxes | **13** | **944680**  | 945699  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes | **16** | **112237**  | 1504014  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative financial instruments | **4.5** | **8987791**  | 8014683  |
| &nbsp;&nbsp;&nbsp;&nbsp;Advances to suppliers | **14** | **2964157**  | 2788262  |
| &nbsp;&nbsp;&nbsp;&nbsp;Judicial deposits |  | **423228**  | 418301  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets |  | **194214**  | 187102  |
| &nbsp;&nbsp;&nbsp;&nbsp;Biological assets | **17** | **26525587**  | 26097164  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments | **18** | **1134258**  | 1194877  |
| &nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment | **19** | **63975882**  | 64296187  |
| &nbsp;&nbsp;&nbsp;&nbsp;Right of use | **23.1** | **5279506**  | 5331789  |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangible | **20** | **12721787**  | 12970692  |
| &nbsp;&nbsp;&nbsp;**Total non-current assets** |  | **123593464**  | **124068450**  |
| **TOTAL ASSETS** |  | **165825010**  | **167935519**  |

---

The accompanying notes are an integral part of this unaudited condensed consolidated interim financial information.

---

| |
|:---|
| **3** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Three-month period ended March 31, 2026 | ![Capturar.jpg](suz-20260331_g1.jpg) |
| (In thousands of R$, unless otherwise stated) | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

&nbsp;&nbsp;&nbsp;&nbsp;**CONSOLIDATED BALANCE SHEET**

---

| | | | |
|:---|:---|:---|:---|
| | **Note** | **03/31/2026** | **12/31/2025** |
| **LIABILITIES** | | | |
| &nbsp;&nbsp;&nbsp;**CURRENT** | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade accounts payable | **21** | **4981256**  | 5141386  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, financing and debentures | **22** | **3434387**  | 3004905  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities | **23** | **900375**  | 857810  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative financial instruments | **4.5** | **1107667**  | 1205029  |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxes payable |  | **252134**  | 240010  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes payable  |  | **29383**  | 218238  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payroll and charges |  | **720403**  | 1132713  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends payable |  | **12855**  | 1393121  |
| &nbsp;&nbsp;&nbsp;&nbsp;Advances from customers |  | **124080**  | 132408  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities |  | **452506**  | 447251  |
| &nbsp;&nbsp;&nbsp;**Total current liabilities** |  | **12015046**  | **13772871**  |
| &nbsp;&nbsp;&nbsp;**NON-CURRENT** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, financing and debentures | **22** | **87301230**  | 91796352  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities | **23** | **5863527**  | 6072080  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative financial instruments | **4.5** | **7474090**  | 8136320  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for judicial liabilities | **24** | **2775326**  | 2801738  |
| &nbsp;&nbsp;&nbsp;&nbsp;Employee benefit plans | **25** | **748010**  | 741143  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes | **16** | **774873**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation plans | **26** | **360657**  | 332322  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities |  | **329520**  | 330520  |
| &nbsp;&nbsp;&nbsp;**Total non-current liabilities** |  | **105627233**  | **110210475**  |
| **TOTAL LIABILITIES** |  | **117642279**  | **123983346**  |
| **SHAREHOLDERS' EQUITY** | **27** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Share capital |  | **24235546**  | 24235546  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital reserves |  | **78728**  | 80742  |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury shares |  | **(1501072)** | (1511146) |
| &nbsp;&nbsp;&nbsp;&nbsp;Profit reserves |  | **20118234**  | 20118234  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income |  | **774430**  | 888669  |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings |  | **4330150**  |  |
| &nbsp;&nbsp;&nbsp;**Controlling shareholders'** |  | **48036016**  | **43812045**  |
| &nbsp;&nbsp;&nbsp;**Non-controlling interest** |  | **146715**  | **140128**  |
| &nbsp;&nbsp;&nbsp;**Total equity** |  | **48182731**  | **43952173**  |
| **TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY** |  | **165825010**  | **167935519**  |

---

The accompanying notes are an integral part of this unaudited condensed consolidated interim financial information.

---

| |
|:---|
| **4** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Three-month period ended March 31, 2026 | ![Capturar.jpg](suz-20260331_g1.jpg) |
| (In thousands of R$, unless otherwise stated) | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Note** | **Share <br>Capital** | **Capital reserves** | **Treasury shares** | **Profit reserves** | **Accumulated other comprehensive income** | **Retained earnings** | **Total controlling shareholders' equity** | **Non-controlling interest** | **Total consolidated shareholders' equity** |
| **Balances at December 31, 2024** |  | **19235546**  | **60226**  | **(1339197)** | **12978898**  | **1348796**  |  | **32284269**  | **131306**  | **32415575**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income for the period |  |  |  |  |  |  | 6340760  | 6340760  | 7418  | 6348178  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive loss |  |  |  |  |  | (199454) |  | (199454) |  | (199454) |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock options granted | 26.2 |  | 11038  |  |  |  |  | 11038  |  | 11038  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock options exercised | 26.2 |  | (6437) | 6437  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Share repurchase | 27.5 |  |  | (38664) |  |  |  | (38664) |  | (38664) |
| &nbsp;&nbsp;&nbsp;&nbsp;Unclaimed dividends forfeited |  |  |  |  |  |  | 317  | 317  |  | 317  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transactions with non-controlling interests |  |  |  |  |  |  |  |  | (1344) | (1344) |
| &nbsp;&nbsp;&nbsp;&nbsp;Realization of deemed cost, net of taxes |  |  |  |  |  | (16142) | 16142  |  |  |  |
| **Balances at March 31, 2025** |  | **19235546**  | **64827**  | **(1371424)** | **12978898**  | **1133200**  | **6357219**  | **38398266**  | **137380**  | **38535646**  |
| **Balances at December 31, 2025** |  | **24235546**  | **80742**  | **(1511146)** | **20118234**  | **888669**  |  | **43812045**  | **140128**  | **43952173**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income for the period |  |  |  |  |  |  | **4305404**  | **4305404**  | **6587**  | **4311991**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive loss |  |  |  |  |  | **(90258)** |  | **(90258)** |  | **(90258)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock options granted | 26.2 |  | **12597**  |  |  |  |  | **12597**  |  | **12597**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock options exercised | 26.2 |  | **(14611)** | **10074**  |  |  |  | **(4537)** |  | **(4537)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Unclaimed dividends forfeited |  |  |  |  |  |  | **765**  | **765**  |  | **765**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Realization of deemed cost, net of taxes |  |  |  |  |  | **(23981)** | **23981**  |  |  |  |
| **Balances at March 31, 2026** |  | **24235546**  | **78728**  | **(1501072)** | **20118234**  | **774430**  | **4330150**  | **48036016**  | **146715**  | **48182731**  |

---

The accompanying notes are an integral part of this unaudited condensed consolidated interim financial information.

---

| |
|:---|
| **5** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Three-month period ended March 31, 2026 | ![Capturar.jpg](suz-20260331_g1.jpg) |
| (In thousands of R$, unless otherwise stated) | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**CONSOLIDATED STATEMENTS OF CASH FLOW**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **03/31/2025** |
| **OPERATING ACTIVITIES** | | |
| **Net income for the period** | **4311991**  | **6348178**  |
| &nbsp;&nbsp;**Adjustment to** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation, depletion and amortization | **2725322**  | 2408025  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation of right of use | **81330**  | 89397  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense on lease liabilities (Note 8) | **113211**  | 116258  |
| &nbsp;&nbsp;&nbsp;&nbsp;Result from sale and disposal of non-current assets, net (Note 7) | **(32052)** | 46307  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss from associates and joint ventures (note 18.3) | **20372**  | 17077  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange rate and monetary variations, net (Note 8) | **(2909755)** | (5204286) |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expenses on financing, loans and debentures (Note 22.3) | **1426111**  | 1412878  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized loan costs (Note 8) | **(24929)** | (52753) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of transaction costs, premium and discounts (Note 8) | **58457**  | 31923  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative (gains) loss, net (Note 8) | **(3025599)** | (3693159) |
| &nbsp;&nbsp;&nbsp;&nbsp;Premium expenses on early settlements (Note 8) | **129047**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrual of interest on marketable securities | **(311625)** | (264440) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred income tax and social contribution (Note 16.2) | **2167118**  | 3539970  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest on actuarial liabilities and cost of current service (Note 25.2.3) | **20211**  | 19822  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for judicial liabilities, net of reversals (Note 24.1) | **30751**  | 28985  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision (reversal) for doubtful accounts, net (Note 11.3) | **(16607)** | 7653  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for inventory losses, net (Note 12.1) | **2149**  | 4475  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for loss of ICMS credits, net (Note 13.1) | **(13211)** | 45766  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | **17685**  | 15856  |
| &nbsp;&nbsp;**Decrease (increase) in assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade accounts receivable | **638316**  | 2238113  |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventories | **(124714)** | (430784) |
| &nbsp;&nbsp;&nbsp;&nbsp;Recoverable taxes | **(116689)** | (75463) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | **23597**  | 183194  |
| &nbsp;&nbsp;**Increase (decrease) in liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade accounts payable | **68751**  | (91408) |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxes payable | **(113281)** | 5303  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payroll and charges | **(411067)** | (528881) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | **(64382)** | (41443) |
| &nbsp;&nbsp;**Cash generated from operations** | **4670508**  | **6176563**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment of interest on financing, loans and debentures (Note 22.3) | **(1711077)** | (2014500) |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized loan costs paid | **24929**  | 52753  |
| &nbsp;&nbsp;&nbsp;&nbsp;Premium expenses on early settlements | **(129047)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest received on marketable securities | **114151**  | 361942  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment of income taxes | **(68697)** | (159068) |
| &nbsp;&nbsp;**Cash provided by operating activities** | **2900767**  | **4417690**  |

---

The accompanying notes are an integral part of this unaudited condensed consolidated interim financial information.

---

| |
|:---|
| **6** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Three-month period ended March 31, 2026 | ![Capturar.jpg](suz-20260331_g1.jpg) |
| (In thousands of R$, unless otherwise stated) | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **03/31/2025** |
| **INVESTING ACTIVITIES** | |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions to property, plant and equipment (Note 19) | **(890563)** | (1231900) |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions to intangible (Note 20) | **(4083)** | (11836) |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions to biological assets (Note 17) | **(2107800)** | (1836180) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales of property, plant and equipment and biological assets | **103527**  | 43551  |
| &nbsp;&nbsp;&nbsp;&nbsp;Marketable securities, net | **(62149)** | 6367566  |
| &nbsp;&nbsp;&nbsp;&nbsp;Advances for acquisition of wood from operations with development and partnerships | **(257202)** | (6998) |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash provided by (used in) investing activities | **(3218270)** | **3324203**  |
| **FINANCING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from loans, financing and debentures (Note 22.3) | **91273**  | 7055244  |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds (payments) from derivative transactions (Note 4.5.3) | **(58091)** | 124558  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment of loans, financing and debentures (Note 22.3) | **(473585)** | (11175521) |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment of leases (Note 23.2) | **(364185)** | (371531) |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment of dividends | **(1379501)** | (2192903) |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares repurchased (Note 27.2) |  | (38664) |
| &nbsp;&nbsp;**Cash used by financing activities** | **(2184089)** | **(6598817)** |
| &nbsp;&nbsp;**Increase (Decrease) in cash and cash equivalents, net** | **(2501592)** | **1143076**  |
| &nbsp;&nbsp;&nbsp;&nbsp;At the beginning of the period | **15179753**  | 9018818  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange variation on cash and cash equivalents | **(502142)** | (247389) |
| &nbsp;&nbsp;&nbsp;&nbsp;At the end of the period | **12176019**  | 9914505  |
| &nbsp;&nbsp;**Increase (Decrease) in cash and cash equivalents, net** | **(2501592)** | **1143076**  |

---

The accompanying notes are an integral part of this unaudited condensed consolidated interim financial information.

---

| |
|:---|
| **7** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

.

**1 COMPANY'S OPERATIONS**

Suzano S.A. ("Suzano") and its subsidiaries (collectively the "Company") is a public company with its headquarters in Brazil, at Professor Magalhães Neto Avenue, No. 1,752 - 10<sup>th</sup> floor, rooms 1010 and 1011, Pituba District, in the city of Salvador, State of Bahia, and its main business office in the city of São Paulo.

Suzano's shares are traded on B3 S.A. (*"Brasil, Bolsa, Balcão - "B3"*), listed in the New Market under the ticker SUZB3, and its American Depositary Receipts ("ADRs") in a ratio of 1 (one) per common share, Level II, are traded in the New York Stock Exchange ("NYSE") under the ticker SUZ.

The Company has 15 industrial units, 13 located in Brazil in the cities of Cachoeiro de Itapemirim and Aracruz (Espírito Santo State), Belém (Pará State), Eunápolis and Mucuri (Bahia State), Maracanaú (Ceará State), Imperatriz (Maranhão State), Jacareí, Limeira, Mogi das Cruzes and Suzano (São Paulo State) and Três Lagoas and Ribas do Rio Pardo (Mato Grosso do Sul State) and 2 units in United States located in the cities of Pine Bluff (Arkansas) and Waynesville (North Carolina).

These units produce hardwood pulp from eucalyptus, coated paper, paperboard, uncoated paper and cut size paper and packages of sanitary paper (consumer goods - tissue) to serve the domestic and foreign markets.

The Company also has six technology centers, four located in Brazil, one in China and one in Israel focused on product development and industrial process improvement.

In addition, it has a global logistics structure that supports its commercial and export operations. In Brazil, the Company has 29 distribution centers and four ports, strategically located for the distribution of its products. Abroad, the structure consists of approximately 70 terminals, distributed across Asia, Europe, the United States, Ecuador and Argentina.

Pulp and paper are sold in foreign markets by Suzano, as well as through its wholly-owned subsidiaries and/or its sales offices in Argentina, Austria, China, Ecuador, United States of America and Singapore.

The Company's operations also include the commercial management of eucalyptus forest for its own use, operation of port terminals, and holding of interests, as a partner or shareholder, in other companies or enterprises, and commercialization of electricity generated from its pulp production process.

The Company is controlled by Suzano Holding S.A., through a voting agreement whereby it holds 48.85% of the common shares of its share capital (49.28% as of December 31, 2025).

These unaudited condensed consolidated interim financial information was authorized by the the Board of Directors on April 29, 2026.

---

| |
|:---|
| **8** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**1.1 Equity interests**

The Company holds equity interests in the following entities:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | | **% equity interest** | **% equity interest** |
|<br>**Entity/Type of investment** |<br>**Main activity** |<br>**Country** | **03/31/2026** | **12/31/2025** |
| **Consolidated** | | | | |
| F&E Tecnologia do Brasil S.A. (Direct) | Biofuel production, except alcohol | Brazil | **100.00%** | 100.00% |
| Fibria Celulose (USA) Inc. (Direct) | Business office | United States of America | **100.00%** | 100.00% |
| Fibria Terminal de Celulose de Santos SPE S.A. (Direct) | Port operations | Brazil | **100.00%** | 100.00% |
| FuturaGene Ltda. (Direct) | Biotechnology research and development | England | **100.00%** | 100.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;FuturaGene Delaware Inc. (Indirect) | &nbsp;&nbsp;&nbsp;&nbsp;Biotechnology research and development | United States of America | **100.00%** | 100.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;FuturaGene Israel Ltda. (Indirect) | &nbsp;&nbsp;&nbsp;&nbsp;Biotechnology research and development | Israel | **100.00%** | 100.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;FuturaGene Inc. (Indirect) | &nbsp;&nbsp;&nbsp;&nbsp;Biotechnology research and development | United States of America | **100.00%** | 100.00% |
| Maxcel Empreendimentos e Participações S.A. (Direct) | Holding | Brazil | **100.00%** | 100.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;Itacel - Terminal de Celulose de Itaqui S.A. (Indirect) | &nbsp;&nbsp;&nbsp;&nbsp;Port operations | Brazil | **100.00%** | 100.00% |
| Mucuri Energética S.A. (Direct) | Power generation and distribution | Brazil | **100.00%** | 100.00% |
| Paineiras Logística e Transportes Ltda. (Direct) | Road freight transport | Brazil | **100.00%** | 100.00% |
| Portocel - Terminal Espec. Barra do Riacho S.A. (Direct) | Port operations | Brazil | **51.00%** | 51.00% |
| Projetos Especiais e Investimentos Ltda. (Direct) | Commercialization of equipment and parts | Brazil | **100.00%** | 100.00% |
| SFBC Participações Ltda. (Direct) | Packaging production | Brazil | **100.00%** | 100.00% |
| Suzano Argentina S.A.U (Direct)  | Commercialization of paper and computer materials | Argentina | **100.00%** | 100.00% |
| Suzano Austria GmbH. (Direct) | Business office | Austria | **100.00%** | 100.00% |
| Suzano Canada Inc. (Direct) | Lignin research and development | Canada | **100.00%** | 100.00% |
| Suzano Ecuador S.A.S. (Direct)  | Business office | Ecuador | **100.00%** | 100.00% |
| Suzano International Finance B.V (Direct) | Financial fundraising | Netherlands | **100.00%** | 100.00% |
| Suzano International Holding B.V. (Direct) | Holding | Netherlands | **100.00%** | 100.00% |
| Suzano International Trade GmbH. (Direct) | Business office | Austria | **100.00%** | 100.00% |
| &nbsp;&nbsp;&nbsp;&nbsp;Suzano Packaging LLC (Indirect)  | &nbsp;&nbsp;&nbsp;&nbsp;Production of coated and uncoated paperboard, used in the production of Liquid Packaging Board and Cupstock | United States of America | **100.00%** | 100.00% |
| Suzano Material Technology Development Ltd. (Direct) | Biotechnology research and development | China | **100.00%** | 100.00% |
| Suzano Netherlands B.V. (Direct) | Financial fundraising | Netherlands | **100.00%** | 100.00% |
| Suzano Operações Industriais e Florestais S.A. (Direct) | Industrialization, commercialization and exporting of pulp | Brazil | **100.00%** | 100.00% |
| Suzano Pulp and Paper America Inc. (Direct) | Business office | United States of America | **100.00%** | 100.00% |
| Suzano Pulp and Paper Europe S.A. (Direct) | Business office | Switzerland | **100.00%** | 100.00% |
| Suzano Shanghai Ltda. (Direct) | Business office | China | **100.00%** | 100.00% |
| Suzano Shanghai Trading Ltda. (Direct)  | Business office | China | **100.00%** | 100.00% |
| Suzano Singapura Pte. Ltda. (Direct) | Business office | Singapore | **100.00%** | 100.00% |
| Suzano Trading International KFT(Direct) | Business office | Hungary | **100.00%** | 100.00% |
| Suzano Ventures LLC (Direct) | Corporate venture capital | United States of America | **100.00%** | 100.00% |
| **Joint operation** |  |  |  |  |
| Veracel Celulose S.A. (Direct) | Industrialization, commercialization and exporting of pulp | Brazil | **50.00%** | 50.00% |

---

---

| |
|:---|
| **9** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | | **% equity interest** | **% equity interest** |
|<br>**Entity/Type of investment** |<br>**Main activity** |<br>**Country** | **03/31/2026** | **12/31/2025** |
| **Equity** | | | | |
| Allotrope Energy Ltd (Indirect) <sup>(2)</sup> | Research and development of battery technology based on carbon derived from lignin biomass | England | **19.72%** | 20.00% |
| Biomas Serviços Ambientais, Restauração e Carbono S.A. (Direct)  | Restoration, conservation and preservation of forests | Brazil | **16.66%** | 16.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Muçununga Serviços Ambientais, Restauração e Carbono Ltda. (Indirect) <sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Restoration, conservation and preservation of forests | Brazil | **8.33%** | 8.33% |
| Ibema Companhia Brasileira de Papel (Direct) | Industrialization and commercialization of paperboard | Brazil | **49.90%** | 49.90% |
| Simplifyber, Inc. (Indirect)  | Production of consumer goods through the transformation of cellulose-based liquids | United States of America | **15.52%** | 14.20% |
| Spinnova Plc. (Direct) ("Spinnova") | Research of sustainable raw materials for the textile industry | Finland | **18.76%** | 18.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Woodspin Oy (Direct/Indirect) ("Woodspin") <sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Development and production of cellulose-based fibers, yarns and textile filaments | Finland | **18.76%** | 18.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;Spinnova Refining Oy (Indirect) <sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;Industrialization and commercialization of cellulose, microfiber cellulose and paper | Finland | **18.76%** | 18.76% |
| **Fair value through other comprehensive income** |  |  |  |  |
| Bem Agro Integração e Desenvolvimento S.A. (Indirect)  | Software solutions based on artificial intelligence and computer vision for agribusiness | Brazil | **4.58%** | 5.82% |
| Celluforce Inc. (Direct) | Nanocrystalline pulp research and development | Canada | **8.28%** | 8.28% |
| Lenzing Aktiengesellschaft (Indirect) | Production of wood-based cellulose fibers | Austria | **15.00%** | 15.00% |
| Nfinite Nanotechnology Inc. (Indirect)  | Research and development of smart nanocoatings | Canada | **5.40%** | 4.90% |

---

(1) On September 24, 2025, Biomas Serviços Ambientais, Restauração e Carbono S.A. reduced its ownership interest in Muçununga Serviços Ambientais, Restauração e Carbono Ltda. from 100% to 50%, which remains an indirect investee of Suzano S.A.

(2) On September 30, 2025, pursuant to the Advance Subscription Agreement (ASA) entered into in December 2022, the investment made through Suzano Ventures in Allotrope Energy Ltd, held indirectly by Suzano S.A., was converted into preferred shares, corresponding to 20% of the investee's share capital.

(3) On October 3, 2025, the transaction with Spinnova Plc was completed, involving the transfer of the Company's interest in Woodspin Oy and Suzano Finland Oy. Following the transaction, Suzano Finland Oy was renamed Spinnova Refining Oy, and Spinnova became the sole owner (100%) of both entities. The Company, in turn, retained an indirect interest in these companies.

**1.2 Major events in the period**

**1.2.1 Acquisition of an interest in a global tissue business** 

On June 5, 2025, the Company announced that its wholly owned subsidiary, Suzano International Holding B.V., incorporated in the Netherlands, entered into an Equity and Asset Purchase Agreement with Kimberly-Clark Corporation ("K-C") for the acquisition of 51% equity interest (the "Transaction") in a newly formed company in the Netherlands ("Target Company").

The Transaction involves the acquisition of assets and businesses related to the manufacturing, marketing, distribution, and sale of tissue products in selected jurisdictions across the Americas, Europe, Asia, Africa, and Oceania. The Transaction includes 22 production facilities located in 14 countries. In addition, certain regional brands will be transferred to the Target Company, and certain global brands will be licensed by K-C to the Target Company in the relevant regions on a royalty-free, long-term basis.

K-C will retain the remaining 49% ownership interest in the Target Company. The Transaction also includes a call option granted to Suzano to acquire K-C's remaining 49% stake, exercisable from the third anniversary of the closing date or, under certain conditions, earlier.

The agreed purchase price for the 51% interest is US$1,734 million (equivalent to R$9,050 millions) to be paid in cash in full at closing, is subject to customary adjustments applicable to transactions of this nature. The closing of the transaction is subject to the satisfaction of customary precedent conditions, including regulatory approvals and local corporate reorganizations, and is expected to occur by mid-2026.

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|:---|
| **10** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

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| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

In accordance with IFRS 3 – Business Combinations, the Company will assess, on the closing date, the appropriate accounting treatment of the transaction, based on its final scope and the nature of the assets and operations transferred to the Target Company.

As of the issuance date of these unaudited condensed consolidated interim financial information, the Transaction has not resulted in any accounting impacts on the Company's unaudited condensed consolidated interim financial information.

**1.2.2 Middle East Crisis**

The Company continuously monitors the scenario of geopolitical instability in the Middle East and assesses its potential impacts on the macroeconomic environment, the markets in which it operates, and its operations.

The Company has employees and facilities in Israel through its subsidiary FuturaGene Israel Ltd. and has been closely monitoring the local situation, adopting security measures and operational protocols in line with the guidance of the competent authorities.

As of the date of preparation of these unaudited condensed consolidated interim financial information, no material impacts have been identified on the supply of raw materials, logistics, or customer service. The main effects observed relate to increased volatility in energy and commodity costs, which have been managed through the Company's customary risk mitigation mechanisms.

Based on the analyses conducted to date, Management considers that there is no evidence of material operational or financial impacts on the Company as of March 31, 2026; however, this assessment may be revised as the situation evolves.

**2 BASIS OF PREPARATION AND PRESENTATION OF FINANCIAL STATEMENTS**

The Company's unaudited condensed consolidated interim financial information, for the three-month period ended March 31, 2026, are prepared in compliance with the international accounting standard IAS 34 Interim Financial Reporting issued by the International Accounting Standards Board ("IASB") and disclose all the applicable significant information related to the financial information, which is consistent with the information used by Management in the performance of its duties.

The Company's unaudited condensed consolidated interim financial information are expressed in thousands of Brazilian Reais ("R$"), as well as the amounts of other currencies, when applicable, were also expressed in thousands, unless otherwise stated.

The preparation of unaudited condensed consolidated interim financial information requires Management to make judgments, use estimates and adopt policies in the process of applying accounting practices that affect the disclosed amounts of revenues, expenses, assets and liabilities, including the disclosure of contingent liabilities assumed. However, the uncertainty inherent to these judgments, assumptions and estimates could result in material adjustments to the carrying amount of certain assets and liabilities in future periods.

The Company reviews its judgments, estimates and assumptions continually as disclosed in the annual financial statements for the year ended December 31, 2025 (Note 3.2.19). For the three-month period ended March 31, 2026, there were no changes in these judgments, estimates and assumptions compared to disclosed on December 31, 2025.

The unaudited condensed consolidated interim financial information was prepared on historical cost basis, except for the following material items recognized:

&nbsp;&nbsp;&nbsp;&nbsp;(i)Derivative and non-derivative financial instruments measured at fair value;

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|:---|
| **11** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

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| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

&nbsp;&nbsp;&nbsp;&nbsp;(ii)Share-based payments and employee benefits measured at fair value; and

&nbsp;&nbsp;&nbsp;&nbsp;(iii)Biological assets measured at fair value;

The unaudited condensed consolidated interim financial information was prepared under the going concern assumption.

**3 SUMMARY OF MATERIAL ACCOUNTING POLICIES**

The unaudited condensed consolidated interim financial information was prepared based on the information of Suzano and its subsidiaries on the same base date, except for subsidiary Suzano Packaging and associates Biomas, Simplifyber and Spinnova, as well as in accordance with consistent accounting policies and practices.

The unaudited condensed consolidated interim financial information should be read in conjunction with the annual financial statements for the year ended December 31, 2025, considering that its purpose is to provide an update on the activities, events and significant circumstances in relation to those disclosed in the consolidated financial statements. Therefore, unaudited condensed consolidated interim financial information focus on new activities, events and circumstances and do not duplicate the information previously disclosed, except when Management judges that the maintenance of the information is relevant.

The accounting policies have been consistently applied to all consolidated companies.

There were no changes on such policies and estimates calculation methodologies,except for the new accounting policies presented in Note 3.1, adopted as of January 1, 2026 which was disclosed in the annual financial statements of December 31, 2025.

**3.1 New accounting policies and changes in accounting policies adopted**

The new standards and interpretations issued, until the issuance of the Company's unaudited condensed consolidated interim financial information, are described below.

**3.1.1 Amendment to IFRS 9 and IFRS 7 - Classification and Measurement of Financial Instruments (applicable for annual on/or after January 1, 2026)**

On 30 May 2024, the IASB issued targeted amendments to IFRS 9 and IFRS 7 to respond to recent questions arising in practice, and to include new requirements not only for financial institutions but also for corporate entities. These amendments:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic cash transfer system;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• add new disclosures for certain instruments with contractual terms that can change cash flows (such as some financial instruments with features linked to the achievement of environment, social and governance targets); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• update the disclosures for equity instruments designated at fair value through other comprehensive income (FVOCI).

The Company assessed the content of this pronouncement and did not identify any impacts.

---

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|:---|
| **12** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

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| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**4 FINANCIAL INSTRUMENTS AND RISKS MANAGEMENT**

**4.1 Financial risks management**

**4.1.1 Overview**

In the three-month period ended March 31, 2026, there were no transfers of financial instruments between Levels 1, 2 and 3 of the fair value hierarchy and there were no significant changes in the financial risk management policies and procedures compared to those disclosed in the annual financial statements for the year ended December 31, 2025 (Note 4).

The Company maintained its conservative approach and strong cash and marketable securities position, as well as its hedging policy.

**4.1.2 Classification**

All transactions with financial instruments are recognized for accounting purposes and classified in the following categories:

---

| | | | |
|:---|:---|:---|:---|
| | **Note** | **03/31/2026** | **12/31/2025** |
| **Assets** | | | |
| &nbsp;&nbsp;**Amortized cost** | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | **9** | **12176019**  | 15179753  |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade accounts receivable | **11** | **5766623**  | 6560607  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets <sup>(1)</sup> |  | **595039**  | 595069  |
|  |  | **18537681**  | **22335429**  |
| &nbsp;&nbsp;**Fair value through other comprehensive income** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments <sup>(2)</sup> | **18.1** | **864524**  | 901181  |
|  |  | **864524**  | **901181**  |
| &nbsp;&nbsp;**Fair value through profit or loss** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative financial instruments <sup>(3)</sup> | **4.5.1** | **11895759**  | 9571661  |
| &nbsp;&nbsp;&nbsp;&nbsp;Marketable securities <sup>(4)</sup> | **10** | **10503715**  | 10252454  |
|  |  | **22399474**  | **19824115**  |
|  |  | **41801679**  | **43060725**  |
| **Liabilities** |  |  |  |
| &nbsp;&nbsp;**Amortized cost** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade accounts payable | **21** | **4981256**  | 5141386  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, financing and debentures | **22.1** | **90735617**  | 94801257  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities | **23.2** | **6763902**  | 6929890  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends payable |  | **12855**  | 1393121  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities <sup>(1)</sup> |  | **221110**  | 236724  |
|  |  | **102714740**  | **108502378**  |
| &nbsp;&nbsp;**Fair value through profit or loss** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative financial instruments <sup>(3)</sup> | **4.5.1** | **8581757**  | 9341349  |
|  |  | **8581757**  | **9341349**  |
|  |  | **111296497**  | **117843727**  |
|  |  | **69494818**  | **74783002**  |

---

(1)Includes only items classified as financial instruments.

(2)Investments in publicly traded companies are classified as Level 1 in the fair value hierarchy and total R$831,600 as of March 31, 2026 (R$865,986 as of December 31, 2025). Investments in privately held companies are classified as Level 3 and total R$32,924 as of March 31, 2026 (R$35,195 as of December 31, 2025).

(3)Financial instruments classified as Level 2 in the fair value hierarchy.

---

| |
|:---|
| **13** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

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---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

(4)Government securities are financial instruments classified as Level 1 in the fair value hierarchy and total R$1,298,243 as of March 31, 2026 (R$1,274,439 as of December 31, 2025). Private securities, investment funds, and other financial investments are classified as Level 2 in the fair value hierarchy and total R$9,205,472 as of March 31, 2026 (R$8,978,015 as of December 31, 2025).

**4.1.3 Fair value of loans and financing**

The estimated fair values of loans and financing are set forth below:

---

| | | | |
|:---|:---|:---|:---|
| | **Yield used to discount/methodology** | **03/31/2026** | **12/31/2025** |
| **Quoted in the secondary market** | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;**In foreign currency** |  | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bonds <sup>(1)</sup> | **Secondary Market** | **39077766**  | 42223976  |
| **Estimated present value** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**In foreign currency** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Export credits ("Prepayment") | **SOFR** | **17344704**  | 18404795  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets Financing | **SOFR** | **238833**  | 277172  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IFC - International Finance Corporation | **SOFR** | **5137756**  | 5442675  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ECA - Export Credit Agency | **SOFR** | **1860820**  | 1979202  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Panda Bonds - CNY | **Fixed** | **1910093**  | 1964329  |
| &nbsp;&nbsp;&nbsp;&nbsp;**In local currency** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNDES – TJLP | **DI 1** | **75327**  | 95167  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNDES – TLP | **DI 1** | **4192908**  | 4193766  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNDES – Fixed | **DI 1** | **5313**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNDES – TR | **DI 1** | **89170**  | 90356  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNDES – Selic ("Special Settlement and Custody System") | **DI 1** | **499308**  | 547000  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BNDES – UMBNDES | **DI 2** | **252407**  | 253500  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets Financing | **DI 1** | **46254**  | 49911  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debentures | **DI 1/IPCA** | **11342213**  | 10873596  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NCE ("Export Credit Notes")  | **DI 1** | **105376**  | 105865  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NCR ("Rural Credit Notes") | **DI 1** | **5509365**  | 5520478  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CPR ("Rural Product Note") | **DI 1** | **3101240**  | 1472697  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ECO INVEST – Agroindustrial Credit | **DI 1** | **345644**  | 334422  |
|  |  | **91134497**  | **93828907**  |

---

(1) The fair value presented in the Financial Statements as of December 31, 2025 did not include one of the 2029 Bond series, in the amount of R$5,568,313. Considering the inclusion of this amount, the fair value previously reported as of December 31, 2025, in the amount of R$36,655,663, was revised to R$42,223,976.

The book values of loans and financing are disclosed in Note 22.1.

Management considers that, for its other financial assets and liabilities measured at amortized cost, their book values approximate their fair values, and therefore the fair value information is not being presented.

**4.2 Liquidity risk management**

As disclosed in the financial statements for the year ended December 31, 2025 (Note 4), the Company's purpose is to maintain a strong cash and marketable securities position to meet its financial and operating commitments. The amount held in cash is intended to cover the expected outflows in the normal course of its operations, while the cash surplus is generally invested in highly liquid financial investments according to the Cash Management Policy.

---

| |
|:---|
| **14** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

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| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

The cash position is monitored by the Company's Management, by means of management reports and participation in performance meetings with determined frequencies. During the three-month period ended March 31, 2026, the variations in cash and marketable securities were as expected, and the cash generated from operations was mostly used for investments and debt service.

All derivative financial instruments were traded over the counter and do not require deposit guarantee margins.

The remaining contractual maturities of financial liabilities are presented as of the balance sheet date. The amounts as set forth below consist of undiscounted cash flow, and include interest payments and exchange rate variations, and therefore may not reconcile with the amounts disclosed in the balance sheet.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **03/31/2026** |
| | **Book value** | **Undiscounted cash flow** | **Up to 1 year** | **1 - 2 years** | **2 - 5 years** | **More than 5 years** |
| **Liabilities** | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade accounts payables | **4981256**  | **4981256**  | **4981256**  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, financing and debentures  | **90735617**  | **134683728**  | **6123048**  | **10714381**  | **62694071**  | **55152228**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities | **6763902**  | **11893716**  | **1677577**  | **1223232**  | **3114107**  | **5878800**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative financial instruments  | **8581757**  | **14131736**  | **1159582**  | **1040511**  | **4212549**  | **7719094**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends payable | **12855**  | **12855**  | **12855**  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | **221110**  | **221110**  | **55717**  | **90436**  | **74957**  |  |
|  | **111296497**  | **165924401**  | **14010035**  | **13068560**  | **70095684**  | **68750122**  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | | | | **12/31/2025** |
| | **Book <br>value** | **Undiscounted cash flow** | **Up to 1 year** | **1 - 2 years** | **2 - 5 years** | **More than 5 years** |
| **Liabilities** | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade accounts payables | 5141386  | 5141386  | 5141386  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, financing and debentures  | 94801257  | 136586565  | 5690098  | 16894643  | 46428491  | 67573333  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lease liabilities | 6929890  | 13281230  | 2761632  | 1235951  | 3161325  | 6122322  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative financial instruments  | 9341349  | 13741567  | 1139273  | 849920  | 3815705  | 7936669  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends payable | 1393121  | 1393121  | 1393121  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 236724  | 256992  | 69458  | 111323  | 76211  |  |
|  | **117843727**  | **170400861**  | **16194968**  | **19091837**  | **53481732**  | **81632324**  |

---

**4.3 Credit risk management**

In the three-month period ended March 31, 2026, there were no significant changes in the credit risk management policies compared to those disclosed in the annual financial statements for the year ended of December 31, 2025 (Note 4).

**4.4 Market risk management**

In the three-month period ended March 31, 2026, there were no significant changes in the market risk management policies and procedures compared to those disclosed in the annual financial statements for the year ended December 31, 2025 (Note 4).

---

| |
|:---|
| **15** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

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| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**4.4.1 Exchange rate risk management**

As disclosed in the financial statements for the year ended December 31, 2025 (Note 4), the Company enters into US$ selling transactions in the futures markets, including strategies involving options, to ensure attractive levels of operating margins for a portion of revenue. Such transactions are limited to a percentage of the net surplus foreign currency over a 24-months' time horizon and therefore, are matched to the availability of currency for sale in the short term.

The assets and liabilities that are exposed to foreign currency, substantially in US$, are set forth below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Consolidated** | **Consolidated** | **Consolidated** | **Consolidated** |
| | **Sensitivity analysis<br>Exchange rate risk (Effect on profit or loss)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** | **Sensitivity analysis<br>Exchange rate risk (Effect on profit or loss)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** | **Sensitivity analysis<br>Exchange rate risk (Effect on profit or loss)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** | |
| | **Base value<br>Probable<br>03/31/2026** | **Possible (25%)** | **Remote (50%)** | **Balance as of 12/31/2025** |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | **8707419**  | (2176855) | (4353710) | 11919897  |
| &nbsp;&nbsp;&nbsp;&nbsp;Marketable securities | **533780**  | (133445) | (266890) | 427329  |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade accounts receivable | **4079784**  | (1019946) | (2039892) | 4705509  |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade accounts payable | **(810849)** | (202712) | (405425) | (1075590) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans and financing | **(66085589)** | (16521397) | (33042795) | (70357356) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | **(63890)** | (15973) | (31945) | (66446) |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative financial instruments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivative options | **2389964**  | (4573200) | (10215031) | 979706  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivative swaps | **476472**  | (3307337) | (6616299) | (851428) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Derivative Non-Deliverable Forward ('NDF') Contracts | **43027**  | (43027) | (43027) | 24355  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Embedded derivatives | **25642**  | (201732) | (403464) | 112058  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commodity Derivatives | **378898**  | (94776) | (189511) | (34379) |

---

For market risk analysis, the Company uses scenarios to evaluate both its asset and liability positions in foreign currency, and the possible effects on its results. The probable scenario represents the amounts recognized, as they reflect the conversion into Brazilian Reais on the balance sheet date (R$ to US$ = R$5.2194).

The Company has sales operations in US$ in the futures markets, including strategies using options, to ensure attractive levels of operating margins for a portion of its revenue. These operations are limited to a percentage of the total exposure to US$ over a 24-month horizon, and are therefore pegged to the availability of ready-to-sell foreign exchange in the short term.

In addition to the transaction described above, the Company also taken 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 positive 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 variation of the Brazilian Real against the US$ by 25% and 50%, before taxes, based on the base scenario on March 31, 2026.

---

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|:---|
| **16** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

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| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**4.4.2 Interest rate risk management**

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

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.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Consolidated** | **Consolidated** | **Consolidated** | **Consolidated** |
| | **Sensitivity analysis<br>Interest rate risk (Effect on profit or loss)** | **Sensitivity analysis<br>Interest rate risk (Effect on profit or loss)** | **Sensitivity analysis<br>Interest rate risk (Effect on profit or loss)** | |
| | **Base value<br>Probable<br>03/31/2026** | **Possible (25%)** | **Remote (50%)** | **Balance as of 12/31/2025** |
| **CDI/SELIC** | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | **3434978**  | (125806) | (251612) | 3204403  |
| &nbsp;&nbsp;&nbsp;&nbsp;Marketable securities | **8019304**  | (298719) | (597438) | 7917258  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans and financing | **8872237**  | (324946) | (649891) | 8825045  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative financial instruments | **2866436**  | (1300573) | (2445303) | 128277  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative options | **2389964**  | (654459) | (1256399) | 979705  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative swaps | **476472**  | (646114) | (1188904) | (851428) |
| **TJLP** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans and financing | **79499**  | (1826) | (3653) | 101302  |
| ***SOFR*** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans and financing | **23897418**  | (219856) | (439712) | 25195489  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative swaps | **476472**  | (130162) | (253566) | (851428) |

---

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 exchange rates, will remain constant. The other scenarios considered a exposure of 25% and 50% in market interest rates.

**4.4.2.1 Sensitivity analysis to changes in the consumer price indices of the US economy** 

For the measurement of the probable scenario, the United States Consumer Price Index ("US-CPI") was considered on March 31, 2026. The probable scenario was extrapolated considering a appreciation of 25% and 50% in the US-CPI to define the possible and remote scenarios, respectively.

The following table sets out the possible impacts, assuming these scenarios in absolute amounts:

---

| | | | |
|:---|:---|:---|:---|
| | **03/31/2026** | **03/31/2026** | **03/31/2026** |
| | | **Effect on profit or loss** | **Effect on profit or loss** |
| |<br>**Probable (base value)** | **Possible (25%)** | **Remote (50%)** |
| Embedded derivative in a commitment to purchase standing wood, originating from a forest partnership agreement | **25642**  | **(27632)** | **(57879)** |

---

---

| |
|:---|
| **17** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**4.4.3 Pulp and commodity price risk management**

The Company is exposed to the selling price of pulp and commodity prices in the international market. The dynamics of rising and falling production capacities in the global market and macroeconomic conditions may impact the Company´s operating results.

Through a specialized team, the Company monitors hardwood pulp prices and analyses future trends, adjusting the forecasts aimed at assisting with preventive measures to calculate the different scenarios. There is no sufficiently liquid financial market to mitigate the risk of a material portion of the Company's operations. Hardwood pulp price protection instruments available on the market have low liquidity and low volume, and high levels of distortion in price formation.

The Company is also exposed to international oil prices, reflected in logistical costs for selling in the export market, and indirectly in the costs of other supply, logistics and service contracts. In such cases, the Company evaluates whether to contract derivative financial instruments to mitigate the risk of price variations in its results.

**4.5 Derivative financial instruments**

The Company determines the fair value of derivative contracts, which differ from the amounts realized in the event of early settlement due to bank spreads and market factors at the time of quotation. The amounts presented by the Company are based on an estimate using market factors and use data provided by third parties, measured internally and compared to calculations performed by external consultants and by counterparties.

Details of derivative financial instruments and their respective calculation methodologies are disclosed in the annual financial statements for the year ended December 31, 2025 (Note 4).

---

| |
|:---|
| **18** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**4.5.1 Outstanding derivatives by contract type, including embedded derivatives**

The positions of outstanding derivatives are set forth below:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Notional value** | **Notional value** | **Fair value in R$** | **Fair value in R$** |
| | **Currency** | **03/31/2026** | **12/31/2025** | **03/31/2026** | **12/31/2025** |
| **Debt hedges** | | | | | |
| &nbsp;&nbsp;**Assets** | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap CDI to Fixed | R$ | **9081789**  | 8788534  | **2752897**  | 2525172  |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap SOFR to Fixed  | US$ | **2464149**  | 2400260  | **511285**  | 492458  |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap IPCA to CDI | R$ | **13622944**  | 11059169  | **1960902**  | 1549779  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pre-fixed Swap to CDI  | R$ | **2400000**  | 2400000  | **1586941**  | 1562789  |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap CDI to SOFR | R$ | **3399600**  | 3399600  | **971697**  | 915431  |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap CNY to Fixed | CNY | **2600000**  | 2600000  | **528655**  | 509116  |
|  |  |  |  | **8312377**  | 7554745  |
| &nbsp;&nbsp;**Liabilities** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap CDI to Fixed  | US$ | **1691530**  | 1635783  | **(2273041)** | (2686614) |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap SOFR to Fixed  | US$ | **2464149**  | 2400260  | **(358788)** | (400210) |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap IPCA to CDI | R$ | **12896320**  | 10466620  | **(2533338)** | (2210556) |
| &nbsp;&nbsp;&nbsp;&nbsp;Pre-fixed Swap to CDI  | R$ | **2400000**  | 2400000  | **(1329418)** | (1554427) |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap CDI to SOFR | US$ | **660171**  | 660171  | **(891382)** | (1080537) |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap CNY to Fixed | US$ | **362736**  | 362736  | **(449939)** | (473828) |
|  |  |  |  | **(7835906)** | (8406172) |
|  |  |  |  | **476471**  | (851427) |
| &nbsp;&nbsp;**Cash flow hedge** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero Cost Collar (US$ x R$) | US$ | **5574300**  | 6156400  | **2389964**  | 979705  |
| &nbsp;&nbsp;&nbsp;&nbsp;NDF (R$ x US$) | US$ | **63000**  | 90000  | **43027**  | 24355  |
|  |  |  |  | **2432991**  | 1004060  |
| &nbsp;&nbsp;**Commodity Hedge and other** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap US-CPI (standing wood) (1) | US$ | **154602**  | 153342  | **25642**  | 112058  |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero Cost Collar (Brent) | US$ | **335511**  | 359677  | **378898**  | (33279) |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap VLSFO/Brent | US$ |  | 1217  |  | (1100) |
|  |  |  |  | **404540**  | 77679  |
|  |  |  |  | **3314002**  | 230312  |

---

---

| | | |
|:---|:---|:---|
| Current assets | **2907968**  | 1556978  |
| Non-current assets | **8987791**  | 8014683  |
| Current liabilities | **(1107667)** | (1205029) |
| Non-current liabilities | **(7474090)** | (8136320) |
|  | **3314002**  | **230312**  |

---

(1)The embedded derivative refers to a swap contract for the sale of price variations in US$ and US-CPI within the term of a forest partnership with a standing wood supply contract.

---

| |
|:---|
| **19** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

The variation in the fair values of derivatives on March 31, 2026 compared to the fair values measured on December 31, 2025 are explained substantially by the appreciation of the Brazilian Real against the US$ and by settlements during the period. 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 March 31, 2026 are over-the-counter market operations, without any type of collateral margin or forced early settlement clause due to variations from market marking.

**4.5.2 Fair Value Maturity Schedule (net amounts)**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| 2026 | **1377007**  | 351949  |
| 2027 | **1746941**  | 674290  |
| 2028 | **192309**  | 96273  |
| 2029 onwards | **(2255)** | (892200) |
|  | **3314002**  | **230312**  |

---

**4.5.3 Fair value settled amounts**

The settled derivatives positions are set forth below:

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| **Cash flow hedge** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Zero Cost Collar (R$ x US$) | **34350**  | 9922  |
| &nbsp;&nbsp;&nbsp;&nbsp;NDF (R$ x US$) | **16922**  | (15388) |
| &nbsp;&nbsp;&nbsp;&nbsp;NDF (€ x US$) |  | (26) |
|  | **51272**  | **(5492)** |
| **Commodity Hedge and other** | **47820**  | (712) |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap VLSFO/Brent | **47820**  | **(712)** |
| **Debt hedges** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap CDI to Fixed (US$) | **147794**  | 408373  |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap IPCA to CDI (Brazilian Reais) | **(140343)** | (321139) |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap Pre-Fixed to CDI | **(304358)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap RMB to fixed US$ |  | (16455) |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap SOFR to SOFR (US$) |  | 1504  |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap CDI to SOFR (US$) | **117659**  | 212326  |
| &nbsp;&nbsp;&nbsp;&nbsp;Swap SOFR to Fixed (US$) | **22065**  | 252250  |
|  | **(157183)** | **536859**  |
|  | **(58091)** | **530655**  |

---

---

| |
|:---|
| **20** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**4.6 Cybersecurity**

Suzano has a Public Information Security Policy, which aims to establish guidelines regarding cyber security management and controls at Suzano, seeking to mitigate vulnerabilities, preserve and protect assets, mainly information and personal data, in accordance with current laws, regulations and contractual obligations, covering the confidentiality, integrity, availability, authenticity and legality of information. The Policy establishes responsibilities to avoid damages, which may represent financial impacts, image and reputation, exposure of information, interruption of operations, among other damages due to cyber-attacks.

For the three-month period ended March 31, 2026, no material incidents associated with cybersecurity were identified that could affect the confidentiality, integrity and/or availability of the systems used by the Company.

**4.7 Climate change**

In the annual financial statements for the year ended December 31, 2025, the Company disclosed information on the risks and opportunities related to climate change and its sustainability strategy. In the three-month period ended March 31, 2026, there were no significant changes in these risks. The update, during the period, to the status of sustainability targets linked to financial instruments—reflecting the achievement of the target for women in leadership positions and the non-achievement of the GHG emissions intensity target—resulted mainly in the application of a 25-basis-point step-up in the interest rate of the 2031 SLB, from 3.75% to 4.00%, effective as of June 16, 2026. The water withdrawal intensity target remains under measurement, with verification expected by the end of the 2026 fiscal year.

**4.8 Capital management**

The main objective is to strengthen the Company's capital structure, aiming to maintain an appropriate level of financial leverage while mitigating risks that could affect the availability of capital for business development.

The Company continuously monitors significant indicators, such as consolidated financial leverage, which is the ratio of total net debt to adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization ("Adjusted EBITDA").

**5 SEGMENT INFORMATION** 

**5.1 Criteria for identifying operating segments** 

The Board of Directors and Board of Statutory Executive Officers evaluate the performance of the Company's business segments through the Adjusted EBITDA.

The operating segments defined by the Company's management are set forth below:

&nbsp;&nbsp;&nbsp;&nbsp;i)Pulp: comprised of the production and sale of hardwood eucalyptus pulp and fluff pulp, mainly to supply the foreign market.

ii)Paper: comprises the production and sale of paper to meet the demands of both the domestic and foreign markets. Consumer goods (tissue) sales are classified under this segment due to their immateriality.

Information related to total assets by reportable segment is not disclosed, as it is not included in the set of information made available to the Company's management, which makes investment decisions and determines the allocation of resources on a consolidated basis.

In addition, with respect to geographical information related to non-current assets, the Company does not disclose such information, as all property, plant and equipment, biological and intangible assets are substantially in Brazil.

---

| |
|:---|
| **21** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**5.2 Information of operating segments**

---

| | | | |
|:---|:---|:---|:---|
| | **03/31/2026** | **03/31/2026** | **03/31/2026** |
| | **Pulp** | **Paper** | **Total** |
| **Net sales**  | **8345742**  | **2622674**  | **10968416**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Domestic market (Brazil) | **405693**  | **1666054**  | **2071747**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign market | **7940049**  | **956620**  | **8896669**  |
| **Cost of sales** | **(5938620)** | **(1868956)** | **(7807576)** |
| **Adjusted EBITDA** | **4056317**  | **523828**  | **4580145**  |
| Adjustments to EBITDA (\*) |  |  | **1643**  |
| Depreciation, depletion and amortization |  |  | **(2806652)** |
| Financial result |  |  | **4616436**  |
| **Net income before taxes** |  |  | **6391572**  |

---

---

| | | | |
|:---|:---|:---|:---|
| | **03/31/2025** | **03/31/2025** | **03/31/2025** |
| | **Pulp** | **Paper** | **Total** |
| **Net sales**  | **8611543**  | **2941378**  | **11552921**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Domestic market (Brazil) | 457416  | 1691196  | 2148612  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign market | 8154127  | 1250182  | 9404309  |
| **Cost of sales** | **(5696157)** | **(2033010)** | **(7729167)** |
| **Adjusted EBITDA** | 4254146  | 611628  | 4865774  |
| Adjustments to EBITDA (\*) |  |  | (109317) |
| Depreciation, depletion and amortization |  |  | (2497422) |
| Financial result |  |  | 7696213  |
| **Net income before taxes** |  |  | **9955248**  |

---

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **03/31/2025** |
| **(\*) Adjustments to EBITDA** | | |
| Loss from associates and joint ventures | **(20372)** | (17077) |
| Income (loss) on disposal and write-off of non-current assets | **32052**  | (46306) |
| Provision/(reversals) for losses on ICMS credits (note 13.1) | **13211**  | (45765) |
| Expenses on Asset Acquisition and Business Combinations | **(15062)** |  |
| Restructuring expenses | **(7534)** | (23) |
| Others <sup>(1)</sup> | **(652)** | (146) |
|  | **1643**  | **(109317)** |

---

(1) It includes items with specific, non-cash and exceptional adjustments, such as: i) effective loss of the development contract advance program; and (ii) write-off of stacked wood inventory.

---

| |
|:---|
| **22** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**5.3 Net sales by product**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **03/31/2025** |
| **Products** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Market pulp <sup>(1)</sup> | **8345742**  | 8611543  |
| &nbsp;&nbsp;&nbsp;&nbsp;Printing and writing paper <sup>(2)</sup> | **1770639**  | 1879301  |
| &nbsp;&nbsp;&nbsp;&nbsp;Paperboard | **843550**  | 1051768  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | **8485**  | 10309  |
|  | **10968416**  | **11552921**  |

---

(1)Net sales of fluff pulp represent 0.5% of total net sales, and therefore were included in market pulp net sales. (0.7% as at March 31, 2025).

(2)Net sales of tissue represent 6.1% of total net sales, and therefore were included in printing and writing paper net sales. (5.8% as at March 31, 2025).

**5.3.1 Main customers** 

As of March 31, 2026, the Company has 1 (one) customer responsible for 12.35% of the net sales of pulp operating segment and 1 (one) customer responsible for 11.70% of the net sales of the paper operating segment. As of December 31, 2025 the Company has 1 (one) customer responsible for 11.05% of the net sales of pulp operating segment and 1 (one) customer responsible for 12.45% of the net sales of the paper operating segment.

**5.4 Goodwill based on expected future profitability**

The goodwill based on expected future profitability arising from the business combination was allocated to the disclosable segments, which correspond to the Company's cash-generating units ("CGUs"), considering the economic benefits generated by such intangible assets. The allocation of goodwill is set out below:

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| Pulp | **7,897,051**  | 7,897,051  |
| Paper | **290,191**  | 290,191  |
| | **8,187,242**  | **8,187,242**  |

---

**6 NET SALES** 

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **03/31/2025** |
| **Gross sales** | **13721877**  | 13931964  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Sales deductions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Returns and cancellations | **(20297)** | (36433) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discounts and rebates | **(2208178)** | (1812315) |
|  | **11493402**  | 12083216  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxes on sales | **(524986)** | (530295) |
| **Net sales**  | **10968416**  | **11552921**  |

---

---

| |
|:---|
| **23** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**7 INCOME (EXPENSES) BY NATURE** 

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **03/31/2025** |
| **Cost of sales** <sup>(1)</sup> | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Personnel expenses | **(523767)** | (520711) |
| &nbsp;&nbsp;&nbsp;&nbsp;Costs of raw materials, materials and services | **(3078193)** | (3153449) |
| &nbsp;&nbsp;&nbsp;&nbsp;Logistics cost | **(1308436)** | (1296365) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation, depletion and amortization | **(2548227)** | (2223588) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | **(348953)** | (535054) |
|  | **(7807576)** | **(7729167)** |
| **Selling expenses** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Personnel expenses | **(87125)** | (90189) |
| &nbsp;&nbsp;&nbsp;&nbsp;Services | **(58771)** | (55666) |
| &nbsp;&nbsp;&nbsp;&nbsp;Logistics cost | **(349453)** | (340905) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | **(243644)** | (241026) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other <sup>(2)</sup> | **(13051)** | (27096) |
|  | **(752044)** | **(754882)** |
| **General and administrative expenses** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Personnel expenses | **(468297)** | (403006) |
| &nbsp;&nbsp;&nbsp;&nbsp;Services | **(110713)** | (115819) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | **(33943)** | (30276) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other <sup>(3)</sup> | **(69850)** | (124450) |
|  | **(682803)** | **(673551)** |
| **Other operating (expenses) income, net** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Results from sales of other products, net | **39974**  | 27487  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net result on disposal and write-off of non-current assets | **32052**  | (46307) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation, amortization and other PPA realizations <sup>(4)</sup> | **19162**  | (2532) |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for judicial liabilities | **(67582)** | (104863) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other operating income, net | **45909**  | 7006  |
|  | **69515**  | **(119209)** |

---

(1)Includes R$324,131 related to maintenance downtime costing (R$416,608 as at March 31, 2025).

(2)Includes expected credit losses, insurance, materials for use and consumption, travel, accommodation, trade fairs and events.

(3)Includes, substantially corporate expenses, insurance, materials for use and consumption, social programs and donations, travel and accommodation.

(4)Refers, substantially, to the write-off of contingent liabilities assumed in Fibria's PPA as disclosed in note 24.1.

---

| |
|:---|
| **24** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**8 NET FINANCIAL RESULT** 

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **03/31/2025** |
| **Financial expenses** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest on loans, financing and debentures <sup>(1)</sup> | **(1401182)** | (1360125) |
| &nbsp;&nbsp;&nbsp;&nbsp;Premium expenses on early settlements <sup>(2)</sup> | **(129047)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of transaction costs | **(58457)** | (31923) |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expenses on lease liabilities <sup>(3)</sup> | **(113211)** | (116258) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other  | **(103034)** | (131779) |
|  | **(1804931)** | **(1640085)** |
| **Financial income** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents and marketable securities  | **464425**  | 348428  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | **21588**  | 90425  |
|  | **486013**  | **438853**  |
| **Results from derivative financial instruments** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income | **3477696**  | 4224351  |
| &nbsp;&nbsp;&nbsp;&nbsp;Expenses | **(452097)** | (531192) |
|  | **3025599**  | **3693159**  |
| **Monetary and exchange rate variations, net** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange rate variations on loans, financing and debentures | **3419196**  | 5702984  |
| &nbsp;&nbsp;&nbsp;&nbsp;Leases | **119661**  | 199040  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets and liabilities <sup>(4)</sup> | **(629102)** | (697738) |
|  | **2909755**  | 5204286  |
| **Net financial result** | **4616436**  | **7696213**  |

---

(1)Excludes R$24,929 arising from capitalized loan costs, substantially related to property, plant and equipment in progress of the Cerrado Project for the three-month period ended March 31, 2026 (R$52,753 as at March 31, 2025).

(2)R$121,752 related to the costs of early termination of the pre-approved and undrawn credit facility with Finnvera.

(3)Includes R$64,577 referring to the reclassification to the biological assets item for the composition of the formation cost (R$66,200 as of March 31, 2025).

(4)Includes effects of exchange rate variations of trade accounts receivable, trade accounts payable, cash and cash equivalents, marketable securities and others.

**9 CASH AND CASH EQUIVALENTS**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Average yield p.a. %** | **Average yield p.a. %** | **03/31/2026** | **12/31/2025** |
| **Cash and banks** <sup>(1)</sup> | **3.87%** | **3.87%** | **6086977**  | 9881326  |
| **Cash equivalents** |  |  |  |  |
| &nbsp;&nbsp;**Local currency** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed-term deposits | **101.60** | **% of CDI** | **3434978**  | 3204403  |
| &nbsp;&nbsp;**Foreign currency** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed-term deposits <sup>(2)</sup> | **4.35%** | **4.35%** | **2654064**  | 2094024  |
|  |  |  | **12176019**  | **15179753**  |

---

(1)Refers mainly to investments in foreign currency under the Sweep Account modality, which is a remunerated account the balance of which is invested and made available automatically each day.

(2)Refers to Time Deposit applications, with maturity up to 90 days, which is a remunerated bank deposit with a specific maturity period and is subject to an insignificant risk of changes in value.

---

| |
|:---|
| **25** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**10 MARKETABLE SECURITIES**

---

| | | | |
|:---|:---|:---|:---|
| | **Average yield p.a. %** | **03/31/2026** | **12/31/2025** |
| **In local currency** | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Private funds | **101.34% of CDI** | **776936**  | 526526  |
| &nbsp;&nbsp;&nbsp;&nbsp;Private Securities ("CDBs") | **101.00% of CDI** | **6912231**  | 7045434  |
| &nbsp;&nbsp;&nbsp;&nbsp;Public Securities | **IPCA + 6.15%** | **1298243**  | 1274439  |
| &nbsp;&nbsp;&nbsp;&nbsp;CDBs - Escrow Account <sup>(1)</sup> | **99.61% of CDI** | **330137**  | 319680  |
| &nbsp;&nbsp;&nbsp;&nbsp;Public Securities - Instituto de Crédito Oficial (ICO) | **12.64%** | **652388**  | 633428  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | **99.99% of CDI** |  | 25618  |
|  |  | **9969935**  | **9825125**  |
| **Foreign currency** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Time deposits <sup>(2)</sup> | **4.43%** | **525601**  | 421291  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other |  | **8179**  | 6038  |
|  |  | **533780**  | **427329**  |
|  |  | **10503715**  | **10252454**  |
| **Current** |  | **10173578**  | 9932774  |
| **Non-Current** |  | **330137**  | 319680  |

---

(1)Refers to escrow accounts, which will be released only after obtaining the applicable governmental approvals, and pending compliance by the Company with the conditions precedent in transactions involving the sale of rural properties.

(2)Refers to Time Deposit investments, with maturities over 90 days, which are remunerated bank deposits with specific maturity periods.

**11 TRADE ACCOUNTS RECEIVABLE**

**11.1 Breakdown of balances**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| **Domestic customers** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Third parties | **1723795**  | 1918437  |
| &nbsp;&nbsp;&nbsp;&nbsp;Related parties (Note 11.1) <sup>(1)</sup> | **60430**  | 68209  |
| **Foreign customers** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Third parties | **4079784**  | 4705509  |
| **Expected credit losses (ECL)** | **(97386)** | (131548) |
|  | **5766623**  | **6560607**  |

---

(1)The balance refers to transactions with Ibema Companhia Brasileira de Papel.

---

| |
|:---|
| **26** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

The Company carries out factoring transactions for certain customer receivables where it transfers the control of all risks and rewards related to these receivables to the counterparty, so these receivables are derecognized from accounts receivable in the balance sheet. This transaction refers to an additional cash generation opportunity which can be discontinued at any time without significant impacts on the Company's operation and is therefore classified as a financial asset measured at amortized cost. The decision to assign the receivables is continuously reassessed based on market conditions and the Company's cash flow strategy, meaning that the volume of discounts may vary over time. The impact of these factoring transactions on the accounts receivable as of March 31, 2026, was R$6,223,744 (R$6,616,450 as of December 31, 2025).

**11.2 Breakdown of trade accounts receivable by maturity**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| **Current** | **4983143**  | 5794713  |
| **Overdue** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Up to 30 days | **536862**  | 465967  |
| &nbsp;&nbsp;&nbsp;&nbsp;From 31 to 60 days | **84518**  | 89398  |
| &nbsp;&nbsp;&nbsp;&nbsp;From 61 to 90 days | **38425**  | 44305  |
| &nbsp;&nbsp;&nbsp;&nbsp;From 91 to 120 days | **20570**  | 21225  |
| &nbsp;&nbsp;&nbsp;&nbsp;From 121 to 180 days | **24764**  | 45072  |
| &nbsp;&nbsp;&nbsp;&nbsp;From 181 days | **78341**  | 99927  |
|  | **5766623**  | **6560607**  |

---

**11.3 Roll-forward of expected credit losses**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| **Opening balance** | **(131548)** | (30300) |
| &nbsp;&nbsp;&nbsp;&nbsp;(Provisions)/Reversals, net | **16607**  | (119417) |
| &nbsp;&nbsp;&nbsp;&nbsp;Write-offs | **12390**  | 16937  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange rate variations  | **5165**  | 1232  |
| **Closing balance** | **(97386)** | **(131548)** |

---

The Company maintains guarantees for overdue receivables as part of its commercial operations, through credit insurance policies, letters of credit and other guarantees. These guarantees avoid the need to recognize expected credit losses, in accordance with the Company's credit policy.

---

| |
|:---|
| **27** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**12 INVENTORIES**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| **Finished goods** | | |
| &nbsp;&nbsp;**Pulp** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Domestic | **841688**  | 644881  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign | **1673689**  | 1713394  |
| &nbsp;&nbsp;**Paper** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Domestic | **600580**  | 587216  |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign | **539207**  | 507999  |
| **Work in process** | **192972**  | 113212  |
| **Raw materials** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Wood | **2492030**  | 2267720  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating supplies and packaging | **1006771**  | 1037696  |
| **Spare parts and other** | **1493126**  | 1491820  |
| **Estimated losses** | **(198646)** | (208091) |
|  | **8641417**  | **8155847**  |

---

**12.1 Roll-forward of estimated losses**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| **Opening balance** | **(208091)** | (97934) |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions | **(15580)** | (150133) |
| &nbsp;&nbsp;&nbsp;&nbsp;Reversals | **13431**  | 8498  |
| &nbsp;&nbsp;&nbsp;&nbsp;Write-offs | **11594**  | 31478  |
| **Closing balance** | **(198646)** | **(208091)** |

---

On March 31, 2026 and 2025, there were no inventory items pledged as collateral.

---

| |
|:---|
| **28** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**13 RECOVERABLE TAXES**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| IRPJ/CSLL – prepayments and withheld taxes | **773577**  | 706048  |
| PIS/COFINS – on acquisitions of property, plant and equipment <sup>(1)</sup> | **106960**  | 128631  |
| PIS/COFINS – operations | **681034**  | 567872  |
| PIS/COFINS – exclusions from ICMS <sup>(2)</sup> | **311036**  | 324819  |
| ICMS – on acquisitions of property, plant and equipment <sup>(3)</sup> | **447261**  | 472382  |
| ICMS – operations <sup>(4)</sup> | **1872231**  | 1889151  |
| Reintegra program <sup>(5)</sup> | **65808**  | 58790  |
| Other taxes and contributions | **122168**  | 119406  |
| Provision for loss on ICMS credits <sup>(6)</sup> | **(1761902)** | (1775113) |
|  | **2618173**  | **2491986**  |
| **Current** | **1673493**  | 1546287  |
| **Non-current** | **944680**  | 945699  |

---

(1)Social Integration Program ("PIS") and Social Security Funding Contribution ("COFINS"): Credits whose realization is based on the years of depreciation of the corresponding asset.

(2)The Company and its subsidiaries filed lawsuits over the years seeking the exclusion of ICMS from the PIS and COFINS contribution tax basis, in relation to certain transactions during various periods from March 1992.

(3)Tax on Sales and Services ("ICMS"): Credits from the acquisition of property, plant and equipment are recovered on a straight-line basis over a four-year period, from the acquisition date, in accordance with the relevant regulation, the ICMS Control on Property, Plant and Equipment ("CIAP").

(4)ICMS credits accrued due to the volume of exports and credit generated from product import transactions: Credits are concentrated in the States of Espírito Santo, Maranhão, Mato Grosso do Sul e São Paulo, where the Company realizes the credits through the sale of credits to third parties, after approval from the State Ministry of Finance of each State. Credits are also being realized through the consumption of paper and consumer goods (tissue) transactions in the domestic market.

(5)Special Regime of Tax Refunds for Export Companies ("Reintegra"): Reintegra is a program that aims to refund the residual costs of taxes paid throughout the export chain to taxpayers, to make them more competitive in foreign markets.

(6)Related to provisions for ICMS credit balances that are not probable to be recovered.

**13.1 Provision for loss on ICMS credits**

---

| | | |
|:---|:---|:---|
| | | **ICMS** |
| | **03/31/2026** | **12/31/2025** |
| **Opening balance** | **(1775113)** | (1581961) |
| &nbsp;&nbsp;&nbsp;&nbsp;Addition | **(46989)** | (374166) |
| &nbsp;&nbsp;&nbsp;&nbsp;Reversal <sup>(1)</sup> | **60200**  | 181014  |
| **Closing balance** | **(1761902)** | **(1775113)** |

---

(1)Refers mainly to the reversal of the provision for loss resulting from the recovery of ICMS credits through sale to third parties.

---

| |
|:---|
| **29** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**14 ADVANCES TO SUPPLIERS**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| Forestry development program | **2964157**  | 2788262  |
| Advance to suppliers - others | **73267**  | 76818  |
|  | **3037424**  | **2865080**  |
| **Current**  | **73267**  | 76818  |
| **Non-current**  | **2964157**  | 2788262  |

---

In the annual financial statements for the year ended December 31, 2025, the characteristics of the advances were disclosed, which did not change during the three-month period ended March 31, 2026.

**15 RELATED PARTIES**

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.

---

| |
|:---|
| **30** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Assets** | **Assets** | **Liabilities** | **Liabilities** | **Sales (purchases), net** | **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** | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Suzano Holding S.A. | **19**  |  | **(1674)** | (412146) | **25**  | 12  |
| &nbsp;&nbsp;&nbsp;&nbsp;Controller |  |  | **(893)** | (219817) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Related persons |  |  | **(146)** | (36053) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Alden Fundo de Investimento em Ações |  |  | **(124)** | (30444) |  |  |
|  | **19**  |  | **(2837)** | **(698460)** | **25**  | **12**  |
| **Transactions with companies of the Suzano Group and other related parties** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Management | **283**  | 914  |  |  | **224**  | 117  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bexma Participações Ltda. | **7**  | 6  |  |  | **3**  | 1  |
| &nbsp;&nbsp;&nbsp;&nbsp;Naman Capital Ltda. | **9**  |  |  |  | **1**  | 1  |
| &nbsp;&nbsp;&nbsp;&nbsp;Civelec Participações Ltda. | **2895**  | 2895  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fundação Arymax | **8**  | 5  |  |  | **4**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Ibema Companhia Brasileira de Papel <sup>(1)</sup> | **60430**  | 68209  | **(1410)** | (658) | **35148**  | 49430  |
| &nbsp;&nbsp;&nbsp;&nbsp;Instituto Ecofuturo - Futuro para o Desenvolvimento Sustentável | **1**  | 2  |  |  | **(1)** | (1472) |
| &nbsp;&nbsp;&nbsp;&nbsp;IPLF Holding S.A. | **1**  |  |  |  | **1**  | 2  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mabex Representações e Participações Ltda. |  |  | **(338)** | (16) | **(709)** | (600) |
| &nbsp;&nbsp;&nbsp;&nbsp;Nemonorte Imóveis e Participações Ltda. |  |  | **(15)** | (7) | **(1167)** | (45) |
| &nbsp;&nbsp;&nbsp;&nbsp;Woodspin Oy |  |  |  |  | **(321)** | 182  |
|  | **63634**  | **72031**  | **(1763)** | **(681)** | **33183**  | **47616**  |
|  | **63653**  | **72031**  | **(4600)** | **(699141)** | **33208**  | **47628**  |
| **Assets** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade accounts receivable (Note 11) | **60430**  | 68209  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | **3223**  | 3822  |  |  |  |  |
| **Liabilities** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Trade accounts payable (Note 21) |  |  | **(1763)** | (681) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends payable |  |  | **(2837)** | (698460) |  |  |
|  | **63653**  | **72031**  | **(4600)** | **(699141)** |  |  |

---

(1)Refers mainly to the sale of pulp.

---

| |
|:---|
| **31** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**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** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Salary or compensation | **7757**  | 14155  |
| &nbsp;&nbsp;&nbsp;&nbsp;Direct and indirect benefits | **304**  | 328  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bonus | **3753**  | 11999  |
|  | **11814**  | **26482**  |
| **Long-term benefits** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Share-based compensation plan | **11870**  | 26821  |
|  | **11870**  | **26821**  |
| **Payroll charges** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payroll charges | **7500**  | **24219**  |
|  | **31184**  | **77522**  |

---

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.

**16 INCOME AND SOCIAL CONTRIBUTION TAXES**

The Company management believes in the validity of the provisions of international treaties entered by Brazil to avoid double taxation. In order to ensure its right to non-double taxation, the Company filed a lawsuit in April 2019, which aims to exempt the double taxation in Brazil, of profits earned by its subsidiary located in Austria, according to Law No. 12,973/14. Due to the preliminary injunction granted in favor of the Company in the aforementioned lawsuit, the Company decided not to add the profit from Suzano International Trading GmbH, located in Austria, when determining its taxable income and social contribution basis of the net profit of the Company for the three month period ended in March 31, 2026. There is no provision for tax related to the non-double taxation profits of such subsidiary in 2026. Disclosures about uncertain tax positions for income tax and social contribution (IFRIC 23) are presented in Note 24.2.

---

| |
|:---|
| **32** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**16.1 Deferred taxes**

**16.1.1 Deferred income and social contribution taxes**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| Tax loss carried forward | **1206479**  | 982480  |
| Negative tax basis of social contribution carried forward | **469232**  | 381600  |
| **Assets - temporary differences** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for judicial liabilities | **278731**  | 269757  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating provisions | **423506**  | 559288  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provisions for other losses | **615735**  | 619567  |
| &nbsp;&nbsp;&nbsp;&nbsp;Employee benefit plans | **254323**  | 251990  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange rate variations  | **2229871**  | 3443822  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of fair value adjustments arising from business combinations | **620309**  | 620973  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized profit on inventories | **165942**  | 237740  |
| &nbsp;&nbsp;&nbsp;&nbsp;Leases <sup>(1)</sup> | **502970**  | 541431  |
|  | **6767098**  | **7908648**  |
|  **Liabilities - temporary differences** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill - tax benefit on unamortized goodwill | **1950178**  | 1878119  |
| &nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment - deemed cost | **975823**  | 985901  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation for tax-incentive reason <sup>(2)</sup> | **652610**  | 668603  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized loan costs | **918046**  | 937829  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value of biological assets | **1344119**  | 1425535  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes, net of fair value adjustments  | **311032**  | 313464  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax credits - gains from tax lawsuit (exclusion of ICMS from the PIS and COFINS basis) | **110407**  | 115003  |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivatives gains ("MtM") <sup>(1)</sup> | **1099998**  | 66308  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision of deferred taxes on results of subsidiaries abroad | **53597**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other temporary differences | **13924**  | 13872  |
|  | **7429734**  | **6404634**  |
| **Non-current assets** | **112237**  | 1504014  |
| **Non-current liabilities** | **774873**  |  |

---

(1)The Company presents a net balance of derivatives and leases, as gains and losses from deferred taxes are offset simultaneously. For the derivatives line, the passive temporary difference was R$3,864,816 and asset temporary difference of R$2,764,818 (passive temporary difference was R$3,065,768 and asset temporary difference of R$3,001,133 as of December 31, 2025). For the lease line, the passive temporary difference was R$4,873,026 and asset temporary difference was R$5,375,996 (passive temporary difference was R$1,767,605 and asset temporary difference was R$2,309,036 as of December 31, 2025).

(2)Tax depreciation is taken as a benefit only in the income tax calculation bases.

**16.1.2 Breakdown of accumulated tax losses and social contribution tax losses carried forward**

---

| | | |
|:---|:---|:---|
|  | **03/31/2026** | **12/31/2025** |
| Tax loss carried forward | **4,825,916**  | 3,929,920  |
| Negative tax basis of social contribution carried forward | **5,213,689**  | 4,240,000  |

---

---

| |
|:---|
| **33** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**16.1.3 Roll-forward of deferred tax assets**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| **Opening balance** | **1504014**  | 7971419  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax loss carried forward | **223999**  | 185649  |
| &nbsp;&nbsp;&nbsp;&nbsp;Negative tax basis of social contribution carried forward | **87632**  | 74457  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for judicial liabilities | **8974**  | (55116) |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating provisions and other losses | **(137281)** | 122493  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange rate variation  | **(1213951)** | (3941212) |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative (gains) losses ("MtM") | **(1033690)** | (2297143) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of fair value adjustments arising from business combinations  | **1768**  | 23905  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unrealized profit on inventories | **(71798)** | (301417) |
| &nbsp;&nbsp;&nbsp;&nbsp;Leases | **(38461)** | (65513) |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill - tax benefit on unamortized goodwill | **(72059)** | (288232) |
| &nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment - deemed cost | **10078**  | 80982  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation accelerated for tax-incentive reason  | **15993**  | 65037  |
| &nbsp;&nbsp;&nbsp;&nbsp;Capitalized loan costs | **19783**  | 9653  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fair value of biological assets | **81416**  | (108440) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred taxes on the results of subsidiaries abroad | **(53597)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Credits on exclusion of ICMS from the PIS/COFINS tax base | **4596**  | 22925  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other temporary differences | **(52)** | 4567  |
| **Closing balance** | **(662636)** | **1504014**  |

---

**16.2 Reconciliation of the effects of income tax and social contribution on profit or loss**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **03/31/2025** |
| Net income (loss) before taxes | **6391572** | **9955248** |
| Income tax and social contribution benefit (expense) at statutory nominal rate of 34% | **(2173134)** | **(3384784)** |
| **Tax effect on permanent differences** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Impact of the taxation difference on profit of associates in Brazil and abroad <sup>(1)</sup> | **94815** | (283517) |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity method | **(6926)** | (5806) |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit related to Reintegra Program | **2463** | 2912 |
| &nbsp;&nbsp;&nbsp;&nbsp;Director bonuses | **(3441)** | (11912) |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax incentives (Note 12.3) | **2195** | 67802 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other exclusions permanent | **4447** | 8235 |
|  | **(2079581)** | **(3607070)** |
| **Income tax** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current | **88836** | (57542) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred | **(1594376)** | (2592733) |
|  | **(1505540)** | **(2650275)** |
| **Social Contribution** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current | **(1299)** | (9558) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred | **(572742)** | (947237) |
|  | **(574041)** | (956795) |
| **Income tax and social contribution result for the period** | **(2079581)** | **(3607070)** |

---

(1)The difference in the taxation of subsidiaries is substantially due to the differences between the nominal tax rates in Brazil and those of subsidiaries located abroad.

---

| |
|:---|
| **34** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**16.3 Tax incentives**

The Company benefits from a tax incentive for partial reduction of the income tax obtained from operations carried out in areas under the jurisdiction of the Northeast Development Superintendence ("SUDENE") and the Superintendence of Amazon Development ("SUDAM"). The IRPJ reduction incentive is calculated based on the activity profits (exploitation profits) and considers the allocation of the operating profit based on the incentive production levels for each product.

---

| | | |
|:---|:---|:---|
| **Area/Regions** | **Company** | **Maturity** |
| **Northeast Development Superintendence ("SUDENE")** |  |  |
| &nbsp;&nbsp;Aracruz (ES) | Portocel | 2030 |
| &nbsp;&nbsp;Aracruz (ES) | Suzano | 2031 |
| &nbsp;&nbsp;Imperatriz (MA) | Suzano | 2032 |
| &nbsp;&nbsp;Mucuri (BA) | Suzano | 2032 |
| &nbsp;&nbsp;&nbsp;São Luís (MA) | Itacel | 2033 |
| &nbsp;&nbsp;Eunápolis (BA) | Veracel | 2033 |
| **Superintendence of Amazon Development ("SUDAM")** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Belém (PA) | Suzano | 2034 |

---

**16.4 OECD PILLAR TWO MODEL RULES**

In December 2021, the Organisation for Economic Co-operation and Development ("OECD") announced the guidelines for the Pillar Two model, aiming for a reform in international corporate taxation to ensure that multinational economic groups, covered by such regulations, contribute an effective minimum tax at a rate of 15% on profits. Each country's effective profit tax rate, as calculated by this model, is called the GloBE (Global Anti-Base Erosion Rules) effective tax rate. These rules await approval in the local legislation of each country. In the context of Suzano, compliance with OECD guidelines on international taxation is a strategic priority.

Based on the calculations performed under the GloBE Simplifying Transition Rules (RSGT), there is no impact on the unaudited condensed consolidated interim financial information in relation to this matter.

The Company reaffirms its commitment to tax compliance and will continue to carry out the necessary actions to ensure the proper implementation of the new rule in the jurisdictions where it operates, in line with global best practices and current legislation.

---

| |
|:---|
| **35** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**17 BIOLOGICAL ASSETS**

The roll-forward of biological assets is as set forth below:

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| **Opening balance** | **26097164**  | 22283001  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions | **2107800**  | 7913483  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depletions  | **(1664221)** | (5352271) |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers |  | 15233  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on fair value adjustments |  | 1516458  |
| &nbsp;&nbsp;&nbsp;&nbsp;Disposals | **(11257)** | (107815) |
| &nbsp;&nbsp;&nbsp;&nbsp;Write-offs | **(3899)** | (170925) |
| **Closing balance** | **26525587**  | **26097164**  |

---

The Company reevaluates, on a semi-annual basis in June and December, the main assumptions used in measuring the fair value of biological assets, which are disclosed in Note 13 of the annual financial statements for the year ended December 31, 2025.

Biological assets are measured at fair value and classified as Level 3 within the fair value hierarchy, due to the use of significant unobservable market assumptions.

The Company manages the financial and climate risks related to its agricultural activities in a preventive manner. To reduce the risks arising from edaphoclimatic factors, the weather is monitored through meteorological stations and, in the event of pests and diseases, our Department of Forestry Research and Development, an area specialized in physiological and phytosanitary aspects, has procedures to diagnose and act rapidly against any occurrences and losses (Note 4.7).

The Company has no biological assets pledged as collateral on March 31, 2026 and December 31, 2025.

---

| |
|:---|
| **36** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**18 INVESTMENTS**

**18.1 Investments breakdown**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| Investments in associates and joint ventures | **240350**  | 264312  |
| Goodwill  | **29384**  | 29384  |
| Other investments evaluated at fair value through other comprehensive income <sup>(1)</sup> | **864524**  | 901181  |
|  | **1134258**  | **1194877**  |
| Investments | **1134258**  | 1194877  |
|  | **1134258**  | **1194877**  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) It includes the fair value measurement of Lenzing Aktiengesellschaft. As of March 31, 2026, the carrying amount of the investment was R$831,600 (R$865,986 as of December 31, 2025).

**18.2 Investments in associates and joint ventures** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Information of investees as at** | **Information of investees as at** | **Information of investees as at** | **Information of investees as at** | **Company Participation** | **Company Participation** | **Company Participation** | **Company Participation** |
| | | | **03/31/2026** | **Carrying amount** | **Carrying amount** | **In the income (expenses) for the period** | **In the income (expenses) for the period** |
| | **Equity** | **Income (expenses) of the period** | **Participation equity (%)** | **03/31/2026** | **12/31/2025** | **03/31/2026** | **03/31/2025** |
| **Associate** | | | | | | | |
| **Foreign** | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Ensyn Corporation <sup>(3)</sup> |  |  |  |  |  |  | (3091) |
| &nbsp;&nbsp;&nbsp;&nbsp;Spinnova Plc. <sup>(1)</sup> | **183627**  | **(88538)** | **18.76%** | **34449**  | 54391  | **(16610)** | (9161) |
| &nbsp;&nbsp;&nbsp;&nbsp;Simplifyber, Inc. | **43498**  | **(6460)** | **15.52%** | **6750**  | 7973  | **(1004)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allotrope Energy Ltd | **2636**  |  | **19.72%** | **520**  | 556  |  |  |
|  |  |  |  | **41719**  | **62920**  | **(17614)** | **(12252)** |
| **Joint ventures** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;**Domestic (Brazil)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Biomas - Serviços Ambientais, Restauração e Carbono Ltda. | **13813**  | **(9865)** | **16.66%** | **2302**  | 3945  | **(1644)** | (1449) |
| &nbsp;&nbsp;&nbsp;&nbsp;Ibema Companhia Brasileira de Papel | **393445**  | **(2231)** | **49.90%** | **196329**  | 197442  | **(1114)** | 3551  |
| &nbsp;&nbsp;**Foreign** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Woodspin Oy <sup>(2)</sup> |  |  |  |  |  |  | (6927) |
|  |  |  |  | **198631**  | **201387**  | **(2758)** | **(4825)** |
| **Other investments evaluated at fair value through other comprehensive income** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bem Agro Integração e Desenvolvimento S.A. |  |  | **4.58%** | **3396**  | 3581  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Celluforce Inc. |  |  | **8.28%** | **24178**  | 25975  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nfinite Nanotechnology Inc. |  |  | **5.40%** | **5350**  | 5639  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lenzing Aktiengesellschaft  |  |  | **15.00%** | **831600**  | 865986  |  |  |
|  |  |  |  | **864524**  | **901181**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill <sup>(2)(3)</sup> |  |  |  | **29384**  | **29389**  |  |  |
|  |  |  |  | **29384**  | **29389**  |  |  |
|  |  |  |  | **1134258**  | **1194877**  | **(20372)** | **(17077)** |

---

(1)The average share price quoted on the Nasdaq First North Growth Market (NFNGM) was EUR0.42 on March 31, 2026 and EUR0.46 on December 31, 2025.

---

| |
|:---|
| **37** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

(2)In August 2025, the Company completed the sale of its entire equity interest in Woodspin Oy and Suzano Finland Oy to Spinnova Plc for the symbolic amount of 1 euro each. For the year ended December 31, 2025, as a result of this transaction, the following accounting effects were recognized, which significantly impacted the equity pickup line: R$(117,447) related to the impairment of the investment, R$(28,679) related to the obligation to make an additional capital contribution, and R$15,636 related to the realization of other comprehensive income of the joint venture Woodspin Oy; R$(63,634) related to the write-off of goodwill of the associate Spinnova Plc; and R$(88,871) related to the impairment of the investment in the subsidiary Suzano Finland Oy.

(3)In November 2025, the Company sold its entire equity interest in Ensyn Corporation, liquidated F&E Technologies LLC, and recognized impairment of the investment in F&E Tecnologia do Brasil S.A., both related to the same technology developed by Ensyn. As of December 31, 2025, as a result of this transaction, the following accounting effects were recognized, which impacted the equity pickup line: (i) R$(160,462) related to the write-off of Ensyn goodwill; R$371 related to the recognition of the provision for losses on investments; and R$$9,896 related to the reclassification of other comprehensive income.

**19 PROPERTY, PLANT AND EQUIPMENT&nbsp;&nbsp;&nbsp;&nbsp;**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Land** | **Buildings** | **Machinery, <br>equipment and facilities** | **Work in progress** | **Other** <sup>(1)</sup> | **Total** |
| Average rate %  |  | **3.43**  | **7.21**  |  | **19.62**  |  |
| **Accumulated cost** | 16775348  | 13816631  | 62822096  | 3510535  | 1806592  | 98731202  |
| **Accumulated depreciation** |  | (4294038) | (28541598) |  | (909526) | (33745162) |
| **Balances at December 31, 2024** | **16775348**  | **9522593**  | **34280498**  | **3510535**  | **897066**  | **64986040**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions | 3080  | 262  | 649533  | 3880270  | 45681  | 4578826  |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition of subsidiaries |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Write-offs | (64222) | (54566) | (152457) |  | (154907) | (426152) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation |  | (434875) | (4123031) |  | (287270) | (4845176) |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers and other | 5980  | 896470  | 3524210  | (4626006) | 201995  | 2649  |
| **Accumulated cost** | 16720186  | 14589194  | 66353229  | 2764799  | 1830011  | 102257419  |
| **Accumulated depreciation** |  | (4659310) | (32174476) |  | (1127446) | (37961232) |
| **Balances at December 31, 2025** | **16720186**  | **9929884**  | **34178753**  | **2764799**  | **702565**  | **64296187**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions |  |  | **65886**  | **823603**  | **1074**  | **890563**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Write-offs | **(29659)** | **(2632)** | **(5219)** |  | **(2469)** | **(39979)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation |  | **(115557)** | **(1015917)** |  | **(39569)** | **(1171043)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers and other  | **(1219)** | **95187**  | **1253907**  | **(1335089)** | **(12632)** | **154**  |
| **Accumulated cost** | **16689308**  | **14677846**  | **67342071**  | **2253313**  | **1791419**  | **102753957**  |
| **Accumulated depreciation** |  | **(4770964)** | **(32864661)** |  | **(1142450)** | **(38778075)** |
| **Balances at March 31, 2026** | **16689308**  | **9906882**  | **34477410**  | **2253313**  | **648969**  | **63975882**  |

---

(1)Includes vehicles, furniture and utensils and computer equipment.

On March 31, 2026, the Company evaluated the business, market and climate impacts, and did not identify any material event that indicated the need to perform an impairment test and to record any impairment provision for property, plant and equipment.

**19.1 Items pledged as collateral**

On March 31, 2026, property, plant and equipment items pledged as collateral, consisting mainly of the units of Ribas do Rio Pardo, Três Lagoas and Imperatriz are set forth below:

---

| | | | |
|:---|:---|:---|:---|
| | **Type of collateral** | **3/31/2026** | **12/31/2025** |
| Land | Financial/Legal | **25184**  | 25562 |
| Buildings | Financial | **1714933**  | 1719004 |
| Machinery, equipment and facilities | Financial | **8596324**  | 19437703 |
| Work in progress | Financial | **351961**  | 339063 |
| Other | Financial | **51379**  | 48475 |
|  |  | **10739781**  | **21569807**  |

---

---

| |
|:---|
| **38** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**19.2 Capitalized expenses**

For the period ended March 31, 2026, the Company capitalized loan costs in the amount of R$24,929 (R$274,731 as of December 31, 2025). The weighted average interest rate, adjusted by the equalization of the exchange rate effects, utilized to determine the capitalized amount was 13.04% p.a. (13.35% p.a. as of December 31, 2025).

**19.3 Asset Retirement Obligation (ARO)**

On March 31, 2026, the Company has provisioned the amount of R$69,542 (R$68,681 as of December 31, 2025) arising asset retirement obligation of industrial landfills The corresponding liability is recorded under "Other liabilities," segregated between current and non-current, according to the expected settlement date.

**20 INTANGIBLE** 

**20.1 Goodwill and intangible assets with indefinite useful lives**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill - Facepa (Tissue plant in Belém/PA) | **119332**  | 119332  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill - Fibria | **7897051**  | 7897051  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill - MMC Brasil (Tissue plant in Mogi das Cruzes/SP) | **170859**  | 170859  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other <sup>(1)</sup> | **5097**  | 5097  |
|  | **8192339**  | **8192339**  |

---

(1)Refers to other intangible assets with indefinite useful lives such as servitude of passage and electricity.

The goodwill is based on expected future profitability supported by valuation reports, after the purchase price allocation.

Goodwill is allocated to cash-generating units as presented in Note 5.4.

For the three-month period ended March 31, 2026, the Company did not identify any event that indicated the need to perform the impairment test and to record any impairment provision for intangible assets.

---

| |
|:---|
| **39** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**20.2 Intangible assets with limited useful lives**

---

| | | | |
|:---|:---|:---|:---|
| | | **03/31/2026** | **12/31/2025** |
| **Opening balance** |  | **4778353**  | 5709964  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions |  | **4083**  | 82492  |
| &nbsp;&nbsp;&nbsp;&nbsp;Write-offs |  | **(36)** | (3015) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization |  | **(252952)** | (1011088) |
| **Closing balance** |  | **4529448**  | **4778353**  |
| **Represented by** | **Average annual rate %** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Port concessions | **3.94**  | **613758**  | 621842  |
| &nbsp;&nbsp;&nbsp;&nbsp;Supplier agreements | **12.70**  | **7407**  | 11111  |
| &nbsp;&nbsp;&nbsp;&nbsp;Port service contracts | **4.26**  | **483757**  | 491094  |
| &nbsp;&nbsp;&nbsp;&nbsp;Trademarks and patents | **8.14**  | **150971**  | 154846  |
| &nbsp;&nbsp;&nbsp;&nbsp;Customer portfolio | **9.10**  | **3078675**  | 3283919  |
| &nbsp;&nbsp;&nbsp;&nbsp;Software | **25.45**  | **186262**  | 206635  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | **10.00**  | **8618**  | 8906  |
|  |  | **4529448**  | **4778353**  |
| **Cost** |  | **11961088**  | 12617166  |
| **Amortization** |  | **(7431640)** | (7838813) |
| **Closing balance** |  | **4529448**  | **4778353**  |

---

For the three-month period ended March 31, 2026, the Company assessed business, market, and climate-related impacts and did not identify any material events that would indicate the need to perform an impairment test or recognize any provision related to the recoverable amount of intangible assets with definite useful lives.

**21 TRADE ACCOUNTS PAYABLE**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| **In local currency** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Third party <sup>(1)</sup> | **4168644**  | 4065115  |
| &nbsp;&nbsp;&nbsp;&nbsp;Related party (Note 15.1) <sup>(2)</sup> | **1763**  | 681  |
| **In foreign currency** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Third party | **810849**  | 1075590  |
|  | **4981256**  | **5141386**  |

---

(1)Within the balance of suppliers, there are values under supplier finance arrangement that were subject to anticipation with financial institutions at the exclusive option of certain suppliers, without changing the originally defined purchase conditions (payment terms and negotiated prices). The balance related to such operations on March 31, 2026 was R$347,271 (R$438,830 at December 31, 2025).

(2)The balance refers mainly to transactions with Ibema Companhia Brasileira de Papel.

**21.1 Long-term commitments**

**21.1.1 Long-term commitments - Take or Pay arrangements** 

During the three-month period ended March 31, 2026, no material changes were identified in the Company's long-term contracts with a minimum supply clause compared to the information disclosed in the financial statements for the year ended December 31, 2025 (Note 17.1.1).

---

| |
|:---|
| **40** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**21.1.2 Exchange and acquisition of biological assets**

In line with the Company's strategy for forest expansion and optimization of wood supply for its operations in the State of Mato Grosso do Sul, the Company entered into exchange and purchase agreements for biological assets in August 2025. Under the terms of these agreements, the Company will receive specified volumes of biological assets between 2025 and 2027. In return, under the exchange agreement, the Company is expected to deliver equivalent volumes between 2028 and 2031.

On September 15, 2025, and January 2, 2026, payments in the amounts of R$878,049 and R$464,156 respectively, were made under the land swap agreement. The remaining amounts payable total R$1,523,529, with R$380,946 due in 2026 and R$1,142,584 due in 2028, in accordance with the contractual schedule.

**22 LOANS, FINANCING AND DEBENTURES**

**22.1 Breakdown by type**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Current** | **Current** | **Non-current** | **Non-current** | | **Total** |
|<br>**Type** |<br>**Currency** |<br>**Interest rate** |<br>**Average annual interest rate - %** | **03/31/2026** | **12/31/2025** | **03/31/2026** | **12/31/2025** | **03/31/2026** | **12/31/2025** |
| **In foreign currency** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Bonds | **USD** | **Fixed** | **5.0%** | **310227**  | 815478  | **39937294**  | 42405964  | **40247521**  | 43221442  |
| &nbsp;&nbsp;&nbsp;&nbsp;Panda Bonds | **CNY** | **Fixed** | **2.7%** | **19576**  | 6785  | **1963907**  | 2039941  | **1983483**  | 2046726  |
| &nbsp;&nbsp;&nbsp;&nbsp;Export credits ("export prepayments") | **USD** | **SOFR/Fixed** | **5.2%** | **1733663**  | 923820  | **15253641**  | 16901305  | **16987304**  | 17825125  |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets financing | **USD** | **SOFR** | **3.1%** | **102736**  | 107159  | **143525**  | 178526  | **246261**  | 285685  |
| &nbsp;&nbsp;&nbsp;&nbsp;ECA - Export Credit Agency | **USD** | **SOFR** | **5.8%** | **14778**  | 17426  | **1687185**  | 1778184  | **1701963**  | 1795610  |
| &nbsp;&nbsp;&nbsp;&nbsp;IFC - International Finance Corporation <sup>(1)</sup> | **USD** | **SOFR** | **5.5%** | **(3763)** | (5485) | **4919069**  | 5182737  | **4915306**  | 5177252  |
| &nbsp;&nbsp;&nbsp;&nbsp;Others |  |  |  | **3751**  | 5516  |  |  | **3751**  | 5516  |
|  |  |  |  | **2180968**  | **1870699**  | **63904621**  | **68486657**  | **66085589**  | **70357356**  |
| **In local currency** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNDES | **BRL** | **UMBNDES** | **6.6%** | **7801**  | 5794  | **442503**  | 468025  | **450304**  | 473819  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNDES | **BRL** | **TJLP** | **8.6%** | **68286**  | 89150  | **10951**  | 11802  | **79237**  | 100952  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNDES | **BRL** | **TLP** | **12.4%** | **201878**  | 178549  | **5576674**  | 5562188  | **5778552**  | 5740737  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNDES | **BRL** | **Fixed** | **2.4%** | **33**  |  | **12500**  |  | **12533**  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNDES | **BRL** | **SELIC** | **16.4%** | **226156**  | 282017  | **522110**  | 514605  | **748266**  | 796622  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNDES | **BRL** | **TR** | **4.0%** | **10264**  | 9933  | **151019**  | 153762  | **161283**  | 163695  |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets financing | **BRL** | **CDI** | **16.3%** | **18887**  | 18799  | **33473**  | 38214  | **52360**  | 57013  |
| &nbsp;&nbsp;&nbsp;&nbsp;NCE ("Export credit notes") | **BRL** | **CDI** | **16.7%** | **4031**  | 4157  | **100000**  | 100000  | **104031**  | 104157  |
| &nbsp;&nbsp;&nbsp;&nbsp;NCR ("Rural producer certificates") | **BRL** | **CDI** | **13.7%** | **387660**  | 369572  | **5000000**  | 5000000  | **5387660**  | 5369572  |
| &nbsp;&nbsp;&nbsp;&nbsp;ECO INVEST - Crédito Agroindustria | **BRL** | **CDI** | **14.0%** | **17126**  | 7094  | **327419**  | 327263  | **344545**  | 334357  |
| &nbsp;&nbsp;&nbsp;&nbsp;Rural Product Note ("CPR") | **BRL** | **CDI/IPCA** | **13.2%** | **1486**  | 41894  | **1979277**  | 1954437  | **1980763**  | 1996331  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debentures | **BRL** | **CDI/IPCA** | **13.7%** | **309811**  | 127247  | **9240683**  | 9179399  | **9550494**  | 9306646  |
|  |  |  |  | **1253419**  | **1134206**  | **23396609**  | **23309695**  | **24650028**  | **24443901**  |
|  |  |  |  | **3434387**  | **3004905**  | **87301230**  | **91796352**  | **90735617**  | **94801257**  |
| Interest on financing |  |  |  | **1259281**  | 1525436  |  |  | **1259281**  | 1525436  |
| Non-current funding |  |  |  | **2175106**  | 1479469  | **87301230**  | 91796352  | **89476336**  | 93275821  |
|  |  |  |  | **3434387**  | **3004905**  | **87301230**  | **91796352**  | **90735617**  | **94801257**  |

---

(1) The balances shown as negative include fundraising costs

---

| |
|:---|
| **41** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**22.2 Breakdown by maturity - non-current**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **2027** | **2028** | **2029** | **2030** | **2031** | **2032 onwards** | **Total** |
| **In foreign currency** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Bonds |  | **2599399**  | **8700749**  | **5155884**  | **6525377**  | **16955885**  | **39937294**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Panda Bonds  | **907427**  | **980837**  |  | **75643**  |  |  | **1963907**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Export credits ("export prepayments") | **2347334**  | **2943742**  | **3627988**  | **5419096**  | **915481**  |  | **15253641**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets financing | **75592**  | **62089**  | **5844**  |  |  |  | **143525**  |
| &nbsp;&nbsp;&nbsp;&nbsp;ECA - Export Credit Agency  |  |  |  |  | **649476**  | **1037709**  | **1687185**  |
| &nbsp;&nbsp;&nbsp;&nbsp;IFC - International Finance Corporation  | **263870**  | **1342546**  | **2187723**  | **1124930**  |  |  | **4919069**  |
|  | **3594223**  | **7928613**  | **14522304**  | **11775553**  | **8090334**  | **17993594**  | **63904621**  |
| **In local currency** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNDES – TJLP | **2816**  | **3755**  | **3755**  | **625**  |  |  | **10951**  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNDES – TLP | **120552**  | **157903**  | **143738**  | **381296**  | **481610**  | **4291575**  | **5576674**  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNDES – Fixed |  |  | **681**  | **743**  | **743**  | **10333**  | **12500**  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNDES – SELIC | **30542**  | **40722**  | **40722**  | **40722**  | **40722**  | **328680**  | **522110**  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNDES – TR | **8301**  | **11068**  | **11068**  | **11068**  | **11068**  | **98446**  | **151019**  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNDES - UMBNDES | **7207**  | **9610**  | **9610**  | **9610**  | **9610**  | **396856**  | **442503**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Ecoinvest |  |  | **73617**  | **73617**  | **73617**  | **106568**  | **327419**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets financing | **14372**  | **19033**  | **68**  |  |  |  | **33473**  |
| &nbsp;&nbsp;&nbsp;&nbsp;NCE ("Export credit notes") | **25000**  | **25000**  | **25000**  | **25000**  |  |  | **100000**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Rural Product Note ("CPR") |  |  |  |  |  | **1979277**  | **1979277**  |
| &nbsp;&nbsp;&nbsp;&nbsp;NCR ("Rural producer certificates") |  |  |  | **2000000**  | **3000000**  |  | **5000000**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debentures  |  |  |  | **561095**  | **500000**  | **8179588**  | **9240683**  |
|  | **208790**  | **267091**  | **308259**  | **3103776**  | **4117370**  | **15391323**  | **23396609**  |
|  | **3803013**  | **8195704**  | **14830563**  | **14879329**  | **12207704**  | **33384917**  | **87301230**  |

---

**22.3 Roll-forward of loans, financing and debentures**

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| **Opening balance** | **94801257**  | 101435531  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fundraising, net of issuance costs  | **91273**  | 23871760  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest accrued  | **1426111**  | 5953778  |
| &nbsp;&nbsp;&nbsp;&nbsp;Monetary and exchange rate variation, net | **(3419196)** | (8384101) |
| &nbsp;&nbsp;&nbsp;&nbsp;Settlement of principal  | **(473585)** | (22353325) |
| &nbsp;&nbsp;&nbsp;&nbsp;Settlement of interest  | **(1711077)** | (5817907) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of fundraising costs  | **20834**  | 101803  |
| &nbsp;&nbsp;&nbsp;&nbsp;Others  |  | (6282) |
| **Closing balance** | **90735617**  | **94801257**  |

---

---

| |
|:---|
| **42** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**22.4 Fundraising costs**

The fundraising costs are amortized based on the terms of agreements and the effective interest rate.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | | **Balance to be amortized** | **Balance to be amortized** |
|<br>**Type** |<br>**Cost** |<br>**Amortization** | **03/31/2026** | **12/31/2025** |
| &nbsp;&nbsp;&nbsp;&nbsp;Bonds | **411818**  | **281633**  | **130185**  | 142598  |
| &nbsp;&nbsp;&nbsp;&nbsp;Panda Bonds | **6183**  | **1286**  | **4897**  | 5617  |
| &nbsp;&nbsp;&nbsp;&nbsp;Rural Product Note ("CPR") | **65177**  | **2716**  | **62461**  | 63819  |
| &nbsp;&nbsp;&nbsp;&nbsp;Export credits ("export prepayments") | **180466**  | **117452**  | **63014**  | 71612  |
| &nbsp;&nbsp;&nbsp;&nbsp;Debentures | **156800**  | **49245**  | **107555**  | 110409  |
| &nbsp;&nbsp;&nbsp;&nbsp;BNDES  | **97685**  | **57630**  | **40055**  | 41023  |
| &nbsp;&nbsp;&nbsp;&nbsp;ECA - Export Credit Agency | **13615**  | **2609**  | **11006**  | 12072  |
| &nbsp;&nbsp;&nbsp;&nbsp;IFC - International Finance Corporation | **81956**  | **30562**  | **51394**  | 57186  |
| &nbsp;&nbsp;&nbsp;&nbsp;Others | **4797**  | **313**  | **4484**  | 4641  |
|  | **1018497**  | **543446**  | **475051**  | **508977**  |

---

**22.5 Guarantees**

Some loan and financing agreements have guarantees clauses, in which the financed equipment or other property, plant and equipment is offered as collateral by the Company, as disclosed in Note 19.1.

The Company does not have contracts with restrictive financial clauses (financial covenants) which must be complied with.

**22.6 Relevant transactions entered into during the period**

On 5 February 2026, the Company completed the arrangement of a new revolving credit facility through its subsidiary Suzano International Finance B.V., replacing the revolving credit facility in place since February 2022 and increasing the total amount available under revolving credit facilities from US$1,275,000 to US$1,775,000 (equivalent to R$9,264,435). The new facility aims to further strengthen the Company's already robust liquidity position, providing greater cash flexibility over the coming years.

The total committed amount of US$1,775,000 is available until February 2031. The commitment fee, in the event the facility is not drawn, is 0.27% p.a. If drawn, the facility bears interest at SOFR plus 0.90% p.a.

**22.7 Significant transactions settled during the period**

The Company did not enter into any material settlements during the three-month period ended March 31, 2026.

---

| |
|:---|
| **43** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**23 LEASES**

**23.1 Right of use**

The balances rolled-forward are set out below:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Lands** | **Machinery and equipment** | **Buildings** | **Ships and boats** | **Vehicles** | **Total** |
| **Balances at December 31, 2024** | **3475569**  | **175043**  | **114392**  | **1373338**  | **42349**  | **5180691**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions/updates | 618637  | 212173  | 135659  | 10765  |  | 977234  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation <sup>(1)</sup>  | (441499) | (200883) | (58630) | (122833) | (1622) | (825467) |
| &nbsp;&nbsp;&nbsp;&nbsp;Write-offs <sup>(2)</sup> | (327) | (277) | (65) |  |  | (669) |
| **Balances at December 31, 2025** | **3652380**  | **186056**  | **191356**  | **1261270**  | **40727**  | **5331789**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions/updates | **79652**  | **39034**  | **21384**  |  |  | **140070**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation <sup>(1)</sup>  | **(111023)** | **(35217)** | **(15621)** | **(30194)** | **(298)** | **(192353)** |
| **Balances at March 31, 2026** | **3621009**  | **189873**  | **197119**  | **1231076**  | **40429**  | **5279506**  |

---

(1)The amount of depreciation related to land is substantially reclassified to biological assets to make up the formation costs.

(2)Write-off due to cancellation of contracts.

On March 31, 2026, the Company does not have commitments to lease agreements not yet in force.

**23.2 Lease liabilities**

The balance of lease payables on March 31, 2026, measured at present value and discounted at the respective discount rates are set forth below:

---

| | | | |
|:---|:---|:---|:---|
| **Nature of agreement** | **Average rate - % p.a.** <sup>(1)</sup> | **Maturity** <sup>(2)</sup> | **Present value of liabilities** |
| &nbsp;&nbsp;&nbsp;&nbsp;Lands and farms | **12.62%** | **September/2053** | **4160512**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Machinery and equipment | **11.65%** | **April/2035** | **298641**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Buildings | **11.27%** | **February/2035** | **197770**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Ships and boats | **11.25%** | **February/2039** | **2088450**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Vehicles | **11.10%** | **November/2028** | **18529**  |
|  |  |  | **6763902**  |

---

(1)For the determination of the discount rates, the market CDI rate obtained from the yield curve on B3's official website was used, considering the term equivalent to the final maturity and the nature of the contracts.

(2)Refers to the original maturities of the agreements and, therefore, does not consider eventual renewal clauses.

---

| |
|:---|
| **44** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

The balances rolled-forward are set out below:

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| **Opening balance** | **6929890**  | 6972915  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions/updates | **140070**  | 977234  |
| &nbsp;&nbsp;&nbsp;&nbsp;Write-offs |  | (669) |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments | **(364185)** | (1447973) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrual of financial charges <sup>(1)</sup> | **177788**  | 733342  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange rate variations | **(119661)** | (304959) |
| **Closing balance** | **6763902**  | **6929890**  |
| **Current** | **900375**  | 857810  |
| **Non-current** | **5863527**  | 6072080  |

---

(1)On March 31, 2026, the amount of R$64,577 related to interest expenses on leased lands was capitalized to biological assets to represent the formation cost (R$265,463 as of December 31, 2025).

The maturity schedule for future payments not discounted to present value related to lease liabilities is disclosed in Note 4.2.

**23.2.1 Amounts recognized in the statement of income for the period**

The amounts recognized are set out below:

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **03/31/2025** |
| &nbsp;&nbsp;&nbsp;&nbsp;Expenses relating to short-term assets | **624**  | 672  |
| &nbsp;&nbsp;&nbsp;&nbsp;Expenses relating to low-value assets | **9**  | 18  |
|  | **633**  | **690**  |

---

**24 PROVISION FOR JUDICIAL LIABILITIES**

The Company is involved in certain legal proceedings arising in the normal course of its business, which include tax, social security, labor, civil, environment and real estate.

The Company classifies the risk of unfavorable decisions in legal proceedings, based on legal advice, which reflects the estimated probable losses.

The Company's Management believes that, based on the available information as of the date of these unaudited condensed consolidated interim financial information, its provisions for tax, social security, labor, civil, environment and real estate risks, accounted for according to IAS 37 are sufficient to cover estimated losses related to its legal proceedings, as set forth below:

---

| |
|:---|
| **45** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**24.1 Roll-forward and changes in the provisions for probable losses based on the nature of the proceedings, net of judicial deposits**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | | **03/31/2026** |
| | **Tax and <br>social security** | **Labor** | **Civil, environment and real estate** | **Contingent liabilities assumed** <sup>(1) (2)</sup> | **Total** |
| **Provision balance at the beginning of the period** | **339763**  | **296358**  | **185411**  | **2095357**  | **2916889**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments | **(698)** | **(16050)** |  |  | **(16748)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Reversal | **(2375)** | **(19300)** | **(11)** | **(25655)** | **(47341)** |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions | **745**  | **33474**  | **18218**  |  | **52437**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Monetary adjustment  | **5433**  | **6255**  | **3684**  |  | **15372**  |
| **Provision balance** | **342868**  | **300737**  | **207302**  | **2069702**  | **2920609**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Judicial deposits (3) | **(32188)** | **(52880)** | **(60215)** |  | **(145283)** |
| **Provision balance at the end of the period** | **310680**  | **247857**  | **147087**  | **2069702**  | **2775326**  |

---

(1)Amounts arising from tax-related lawsuits with a possible or remote probability of loss in the amount of R$1,941,569 and civil lawsuits in the amount of R$128,133, measured and recorded at the estimated fair value resulting from the business combination with Fibria.

(2)Reversal due to a change in likelihood, cancellation and/or due to settlement.

(3)The amounts presented refer exclusively to judicial deposits for which there is a legally enforceable right of offset.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | | **12/31/2025** |
| | **Tax and <br>social security** | **Labor** | **Civil, environment and real estate** | **Contingent liabilities assumed** <sup>(1) (2)</sup> | **Total** |
| **Provision balance at the beginning of the period** | **407964**  | **353926**  | **215553**  | **2127725**  | **3105168**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Payments | (71692) | (113840) | (9176) |  | (194708) |
| &nbsp;&nbsp;&nbsp;&nbsp;Reversal | (51228) | (99936) | (55513) | (32368) | (239045) |
| &nbsp;&nbsp;&nbsp;&nbsp;Additions | 14650  | 128217  | 14056  |  | 156923  |
| &nbsp;&nbsp;&nbsp;&nbsp;Monetary adjustment | 40069  | 27991  | 20491  |  | 88551  |
| **Provision balance** | **339763**  | **296358**  | **185411**  | **2095357**  | **2916889**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Judicial deposits | (31579) | (62334) | (21238) |  | (115151) |
| **Provision balance at the end of the period** | **308184**  | **234024**  | **164173**  | **2095357**  | **2801738**  |

---

(1)Amounts arising from tax-related lawsuits with a possible or remote probability of loss in the amount of R$1,962,549 and civil lawsuits in the amount of R$132,808, measured and recorded at the estimated fair value resulting from the business combination with Fibria.

(2)Reversal due to a change in likelihood, cancellation and/or due to settlement.

**24.1.1 Tax and social security**

On March 31, 2026, the Company has 54 (56 as of December 31, 2025) administrative and judicial proceedings of a tax or social security nature in which the disputed matters are related to IRPJ, CSLL, PIS, COFINS, ICMS among others, whose amounts are provisioned when the likelihood of loss is deemed probable by the Company's external legal counsel and by Management.

**24.1.2 Labor**

On March 31, 2026, the Company has 1,152 (1,152 as of December 31, 2025) labor lawsuits.

In general, the provisioned labor proceedings are related primarily to matters frequently contested by employees of agribusiness companies, such as wages and/or severance payments, in addition to suits filed by outsourced employees of the Company.

**24.1.3 Civil, environment and real estate**

On March 31, 2026, the Company has 72 (73 as at December 31, 2025) civil, environmental and real estate proceedings.

---

| |
|:---|
| **46** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

The provisioned Civil, environment and real estate proceedings are related primarily to the payment of damages, including those arising from contractual obligations, traffic-related injuries, possessory actions, environmental restoration obligations, claims and others.

**24.2 Contingencies with possible losses**

The Company is involved in tax, civil and labor lawsuits, whose losses have been assessed as possible by Management, supported by legal counsel, and therefore no provision was recorded:

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| Taxes and social security <sup>(1)</sup> | **10475914**  | 10417734  |
| Labor | **187362**  | 189506  |
| Civil and environmental <sup>(1)</sup> | **1074285**  | 1023689  |
|  | **11737561**  | **11630929**  |

---

(1)The amounts above do not include the fair value adjustments allocated to possible loss risk contingencies representing R$2,050,641 (R$2,076,296 as of December 31, 2025), which were recorded at fair value resulting from business combinations with Fibria, as presented in Note 24.1.1 above.

In the three-month period ended March 31, 2026, there were no significant changes in the main nature of these contingencies compared to those disclosed in the annual financial statements for the year ended December 31, 2025 (Note 24.1).

**25 EMPLOYEE BENEFIT PLANS**

The Company provides supplementary pension plan and defined benefit plan, such as medical assistance and life insurance. The characteristics of such benefits were disclosed in the annual financial statements for the year ended December 31, 2025 (Note 25), which did not change during the three-month period ended March 31, 2026.

**25.1 Pension plan**

Contributions made by the Company, for Suzano Prev pension plan managed by Brasilprev Seguros e Previdência S.A., for the three-month period ended March 31, 2026 amounted R$5,988 (R$5,745 as of March 31, 2025) recognized under the cost of sales, selling and general and administrative expenses.

**25.2 Defined benefits plan**

The Company offers the medical assistance and life insurance in addition to the pension plans, which are measured based on actuarial calculations and recognized in the unaudited condensed consolidated interim financial information.

The roll-forward of actuarial liabilities prepared based on actuarial report is set forth below:

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **12/31/2025** |
| **Opening balance** | **741143**  | 721560  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest on actuarial liabilities | **19653**  | 77348  |
| &nbsp;&nbsp;&nbsp;&nbsp;Current service cost | **558**  | 1939  |
| &nbsp;&nbsp;&nbsp;&nbsp;Actuarial gain – experience |  | (13340) |
| &nbsp;&nbsp;&nbsp;&nbsp;Actuarial loss – financial assumptions |  | 6026  |
| &nbsp;&nbsp;&nbsp;&nbsp;Benefits paid directly by entity | **(13344)** | (52390) |
| **Closing balance** | **748010**  | **741143**  |

---

---

| |
|:---|
| **47** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**26 SHARE-BASED COMPENSATION PLAN**

The Company has long-term share-based remuneration plans: (i) Phantom stock option plan ("PS"), settled in cash; and (ii) Performance Share Plan, settled in shares.

The characteristics and measurement method of each plan were disclosed in the annual financial statements for the year ended December 31, 2025 (Note 26), which did not change during the three-month period ended March 31, 2026.

**26.1 Phantom shares plan**

The roll-forward arrangements are set out below:

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Number of shares** | **Number of shares** | **Number of shares** | **Number of shares** | **Number of shares** | **Number of shares** | **Number of shares** | **Number of shares** | **Number of shares** | **Number of shares** |
| **Year of grant** | **Fair value on grant date** | **31/12/2025** | **Shares granted** | **Cancelled** | **Exercised** <sup>(1)</sup> | **31/03/2026** | **Available for completion** | **Year of vesting** | **Year of vesting** | **Year of vesting** | **Year of vesting** |
| **Year of grant** | **Fair value on grant date** | **31/12/2025** | **Shares granted** | **Cancelled** | **Exercised** <sup>(1)</sup> | **31/03/2026** | **Available for completion** | **2026** | **2027** | **2028** | **2029** |
| **2021** | **R$64.12**  | 7735  | **168**  |  |  | **7903**  | **7903**  |  |  |  |  |
| **2022** | **R$54.20**  | 480184  | **10447**  | **(221)** | **(145122)** | **345288**  | **160347**  | **160446**  | **24495**  |  |  |
| **2023** | **R$48.81**  | 2695561  | **58994**  | **(27540)** | **(627583)** | **2099432**  |  | **1839449**  | **259983**  |  |  |
| **2024** | **R$56.58**  | 2459390  | **53332**  | **(31197)** | **(7162)** | **2474363**  |  |  | **2299206**  | **175157**  |  |
| **2025** | **R$59.65**  | 3410537  | **148358**  | **(37563)** | **(6642)** | **3514690**  |  |  |  | **3514690**  |  |
| **2026** | **R$50.70**  |  | **700801**  |  |  | **700801**  |  |  |  |  | **700801**  |
|  |  | **9053407**  | **972100**  | **(96521)** | **(786509)** | **9142477**  | **168250**  | **1999895**  | **2583684**  | **3689847**  | **700801**  |
| **Book value** | **Book value** | **332322**  | **75700**  | **(2867)** | **(44498)** | **360657**  |  |  |  |  |  |
| **Book value of the previous year** | **Book value of the previous year** | **361974**  | **209842**  | **(17843)** | **(221651)** | **332322**  |  |  |  |  |  |

---

(1)The average price of the share options exercised and exercised due to termination of employment on March 31, 2026 was R$51.88.

---

| |
|:---|
| **48** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

**26.2 Restricted shares plan**

The position is set forth below:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Number of stock options** | **Number of stock options** | **Number of stock options** | **Number of stock options** | **Number of stock options** | **Number of stock options** | **Number of stock options** | **Number of stock options** | **Number of stock options** |
| **Year of grant** | **Fair value on grant date** | **31/12/2025** | **Shares granted** | **Exercised/Cancelled** | **31/03/2026** | **Year of vesting** | **Year of vesting** | **Year of vesting** | **Year of vesting** | **Year of vesting** |
| **Year of grant** | **Fair value on grant date** | **31/12/2025** | **Shares granted** | **Exercised/Cancelled** | **31/03/2026** | **2026** | **2027** | **2028** | **2029** | **2030** |
| **2023** | **R$50.51**  | 277249  | **6033**  | **(283282)** |  |  |  |  |  |  |
| **2024** | **R$56.09**  | 2331602  | **50731**  |  | **2382333**  | **232651**  | **440715**  |  | **1708967**  |  |
| **2025** | **R$60.47**  | 467265  | **10166**  |  | **477431**  |  |  | **235794**  |  | **241637**  |
| **2026** | **R$49.70**  |  | **175453**  |  | **175453**  |  |  |  | **175453**  |  |
| **Number of stock options** | **Number of stock options** | **3076116**  | **242383**  | **(283282)** | **3035217**  | **232651**  | **440715**  | **235794**  | **1884420**  | **241637**  |
| **Book value** | **Book value** | **80742**  | **12597**  | **(14611)** | **78728**  |  |  |  |  |  |
| **Book value of the previous year** | **Book value of the previous year** | **60226**  | **45642**  | **(25126)** | **80742**  |  |  |  |  |  |

---

**27 SHAREHOLDERS' EQUITY**

**27.1 Share capital**

On March 31, 2026, Suzano's share capital was R$24,269,281 divided into 1,264,117,615 common shares, all nominative, book-entry shares without par value. Expenses related to the public offering were R$33,735, totaling a net share capital of R$24,235,546. The breakdown of the share capital is as set out below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **03/31/2026** | **03/31/2026** | **12/31/2025** | **12/31/2025** |
| | **Quantity** | **(%)** | **Quantity** | **(%)** |
| **Controlling Shareholders** | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Suzano Holding S.A. | **367612329**  | **29.08%** | 367612329 | 29.08% |
| &nbsp;&nbsp;&nbsp;&nbsp;Controller | **196144533**  | **15.52%** | 196065636 | 15.51% |
| &nbsp;&nbsp;&nbsp;&nbsp;Related persons | **26568442**  | **2.10%** | 32157608 | 2.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Alden Fundo de Investimento em Ações | **27154744**  | **2.15%** | 27154744 | 2.15% |
|  | **617480048**  | **48.85%** | **622990317** | **49.28%** |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury (Note 27.2) | **28020765**  | **2.22%** | 28208827 | 2.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other shareholders | **618616802**  | **48.94%** | 612918471 | 48.49% |
|  | **1264117615**  | **100.00%** | **1264117615** | **100.00%** |

---

On March 31, 2026, SUZB3 common shares ended the period quoted at R$51.90 and R$51.45 on December 31, 2025.

**27.2 Treasury shares**

On March 31, 2026, the Company had 28,020,765 (28,208,827 as of December 31, 2025) of its own common shares held in treasury, with an average cost of R$53.57 per share, with a historical value of R$1,501,072 (R$1,511,146 as at December 31, 2025) and the market corresponding to R$1,454,278 (R$1,451,344 as at December 31, 2025).

---

| |
|:---|
| **49** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

------

---

| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

---

For the three-month period ended March 31, 2026, the Company granted 188,062 common shares at an average cost of R$53.57 per share, with a historical value of R$10,074, to comply with the restricted shares plan (Note 22.2).

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Quantity** | **Average cost <br>per share** | **Historical <br>value** | **Market <br>value** |
| **Balances at December 31, 2024** | **24875787**  | **53.84**  | **1339197**  | **1536826**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exercised | (372160) | 53.66  | (19969) | (20251) |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchase | 3705200  | 51.80  | 191918  | 191918  |
| **Balances at December 31, 2025** | **28208827**  | **53.57**  | **1511146**  | **1451344**  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exercised | **(188062)** | **53.57**  | **(10074)** | **(9563)** |
| **Balances at March 31, 2026** | **28020765**  | **53.57**  | **1501072**  | **1454278**  |

---

**28 EARNINGS PER SHARE**

**28.1 Basic**

The basic earnings per share is measured by dividing the profit attributable to the Company's shareholders by the weighted average number of common shares issued during the period, excluding the common shares acquired by the Company and held as treasury shares.

---

| | | |
|:---|:---|:---|
| | **03/31/2026** | **03/31/2025** |
| **Net income for the period attributed to Controlling shareholders'** | **4305404**  | 6340760  |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average number of shares in the period – in thousands | **1264118**  | 1264118  |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average treasury shares – in thousands | **(28200)** | (25047) |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average number of outstanding shares – in thousands | **1235918**  | 1239071  |
| **Basic earnings per common share – R$** | **3.48357**  | **5.11735**  |

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**28.2 Diluted**

The diluted earnings per share is measured by adjusting the weighted average of outstanding common shares, assuming the conversion of all common shares with dilutive effects.

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| | | |
|:---|:---|:---|
| | **03/31/2026** | **03/31/2025** |
| **Net income for the period attributed to Controlling shareholders'** | **4305404**  | 6340760  |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average number of outstanding shares – in thousands | **1235918**  | 1239071  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average number of potential shares (stock options) - in thousands | **3033**  | 3171  |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average number of shares (diluted) – in thousands | **1238951**  | 1242242  |
| **Diluted earnings per common share – R$** | **3.47504**  | **5.10429**  |

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| |
|:---|
| **50** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

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| | |
|:---|:---|
| Suzano S.A. | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Notes to the unaudited condensed consolidated interim financial information | ![Capturar.jpg](suz-20260331_g1.jpg) |
| Years ended March 31, 2026 and 2025 | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Capturar.jpg](suz-20260331_g1.jpg) |
|  | ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

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**29 EVENTS AFTER THE REPORTING PERIOD**

**29.1 New Financings**

On April 1, 2026, the Company concluded the issuance of the 2nd issuance of Financially Settled Rural Product Notes (Cédulas de Produto Rural com Liquidação Financeira – CPR-Fs), issued in two series, in a total amount of R$2,500 millions, comprised of R$1,500 millions related to the first series and R$1,000 millions related to the second series.

The CPR-Fs were issued on March 15, 2026, with a term of ten years for the first series, counted from the Issuance Date, and a term of twelve years for the second series, counted from the Issuance Date and maturing on March 15, 2038. The remuneration of the CPR-Fs corresponds to remunerative interest of 7.0464% per year for the first series and 6.8338% per year for the second series, calculated on the updated nominal unit value, which is adjusted by the accumulated variation of the IPCA inflation index.

Additionally, on April 2, 2026, the Company concluded the issuance of its 12th issuance of simple debentures, not convertible into shares, totaling R$179 millions. The debentures were issued on March 15, 2026, with a tenor of fifteen years, maturing on March 15, 2041, and bear remuneration equivalent to 6.1759% per year, calculated on the updated nominal unit value, also adjusted by the IPCA inflation index.

**29.2 Corporate Income Tax Assessment**

In April 2026, the Company was formally notified of a Notice of Assessment issued for the collection of Corporate Income Tax (IRPJ) and Social Contribution on Net Income (CSLL), in the approximate amount of R$5,100 millions, including interest. The assessment is related to the failure to include profits earned by a foreign subsidiary in the taxable base.

The matter is currently subject to a suspension of enforceability as a result of a favorable court decision obtained by the Company in a preventive writ of mandamus, as disclosed in the financial statements (Note 12) for the year ended December 31, 2025.

The Company is assessing the Notice of Assessment together with its legal advisors and will continue to monitor developments, taking the appropriate measures as necessary. In the Company's assessment, supported by the opinions of its external counsel, the risk associated with the matter is classified as possible.

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| |
|:---|
| **51** |
| ![Suzano-Selo100anos-principal-en-cmyk.ai (4).jpg](suz-20260331_g2.jpg) |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: April 29, 2026

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| | |
|:---|:---|
| | **SUZANO S.A.** |
| By: | /s/ Marcos Moreno Chagas Assumpção |
| Name: | Marcos Moreno Chagas Assumpção |
| Title: | Chief Financial and Investor Relations Officer |

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